Bill > S1424

This bill proposes to amend a section of Massachusetts General Laws related to property tax deferrals, specifically concerning the interest rate charged on such deferrals. Currently, the law specifies an interest rate based on "chapter sixty," which refers to a specific statutory rate. This bill seeks to change that by allowing cities and towns to set their own interest rate, which can be lower than the statutory rate, as long as it is consistent with their local charter. This change provides local governments with more flexibility in managing the financial aspects of tax-deferred properties.