Bill > S1308

This bill proposes to add a new section to Chapter 59 of the General Laws, which deals with property taxes, allowing cities and towns to require certain tax-exempt organizations to make payments in lieu of taxation, meaning payments made instead of property taxes. Specifically, if a city or town votes to accept this new section, organizations that are exempt from property taxes under clause third of the law will have to pay 25 percent of what they would normally owe in property taxes on all their real and personal property within that municipality. This payment is intended to help offset the costs the municipality incurs from services provided to these organizations, even though their property is not taxed. The bill also states that any city or town accepting this section must create local rules, called ordinances or bylaws, to manage these payments, which could include agreements for exemptions, considering community benefits as payment, and how these payments will be administered.