Bill > S1613

This bill proposes to amend Chapter 59 of the General Laws to allow cities and towns to create a special assessment policy for the significant renovation of historic agricultural structures that are officially recognized on the state register of historic places. Under this policy, any increase in the property's assessed value due to these renovations would be gradually added to the tax bill over five years, with one-fifth of the increase applied each year until the full value is reached. To qualify for this phased-in assessment, the rehabilitation work must adhere to the standards set by the Massachusetts Historical Commission, and the Secretary of the Commonwealth, who chairs this commission, will be responsible for creating the necessary rules and regulations to implement this provision.