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Bill > H1641


MA H1641

Establishing a tax incentive for small property improvements


summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

Relative to establishing a tax incentive for small property improvements. Revenue.

AI Summary

This bill establishes a tax incentive for small property improvements. It allows cities and towns in Massachusetts to adopt a policy where property owners with properties assessed at $500,000 or less can deduct any increase in their property tax liability due to improvements they make to their property. The deduction is phased out over a five-year period, with the full increase in assessed value being reflected in the property tax liability by the fifth year after the improvement is completed.

Committee Categories

Budget and Finance

Sponsors (4)

Last Action

Accompanied a study order, see H4244 (on 02/22/2018)

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