Bill > H3205

This bill updates several provisions of Massachusetts property tax collection laws, primarily focusing on modifications to Chapter 60 of the General Laws. The bill removes specific references to "Class one, residential property" from multiple sections, which appears to broaden the application of certain tax collection procedures to all property types. It adds provisions allowing for the recovery of officer costs when posting tax-related notices and adjusts the timeline and procedures for property foreclosure and sale. Specifically, the bill changes the interest rate for land taken or sold, with a 16% rate for properties sold before November 1, 2024, and an 8% rate for properties sold after that date. The legislation also introduces more detailed requirements for municipal and tax receivables purchasers when selling foreclosed properties, including conducting appraisals, holding auctions, and providing itemized accountings to former property owners. The bill prohibits certain individuals, such as municipal employees or elected officials, from bidding on foreclosed properties. Additionally, it mandates that excess equity from property sales be distributed to former owners within 60 days, with payments proportional to their ownership interest at the time of foreclosure. The bill is set to take effect on July 1, 2025.

Budget and Finance

https://malegislature.gov/Bills/194/H3205