Bill > S1384

This bill amends Chapter 59 of the General Laws concerning local property tax exemptions by updating the requirements for property owners and organizations seeking exemptions. Specifically, it modifies the existing Section 29 to clarify the information assessors can request from individuals and entities claiming property tax exemptions, particularly those for literary, educational, temperance, benevolent, charitable, or scientific purposes. The bill requires these entities to provide detailed lists of their real and personal property, along with financial information like receipts and expenditures, and potentially copies of federal tax returns related to unrelated business income. It also allows assessors to request a full list of taxable property from anyone claiming an exemption under specific clauses listed in Section 59. These changes are intended to provide assessors with more comprehensive information to determine eligibility for property tax exemptions and will take effect for fiscal years beginning on or after July 1, 2014.