Bill > S1513

This bill authorizes municipalities to grant property tax exemptions for properties that meet specific criteria for habitat and urban forest preservation. Specifically, it allows cities and towns, at the discretion of their local officials and with approval from their city councils or select boards, to offer an exemption on property taxes for residential properties (classified as Class One). This exemption can be up to twenty percent of the average assessed value of all residential properties in that municipality. However, this exemption is only applicable to properties that demonstrate sufficient native-species habitat, vegetated permeable surfaces, vegetated water retention, foliage, and tree cover, as determined by the Conservation Commission and approved by local officials. The bill clarifies that this exemption is in addition to any other property tax exemptions already available, but it ensures that the taxable value of a property, after all exemptions, will not be reduced below ten percent of its full and fair cash valuation, with some exceptions. It also outlines a process for taxpayers to apply for this exemption if they believe they have been wrongly denied it. This new provision is set to take effect on July 2, 2015.