An Act relative to property tax classifications in the city of Watertown for fiscal year 2027 and subsequent fiscal years

This bill changes how property taxes are calculated for residential properties in Watertown starting in fiscal year 2027. It requires the city to adjust its tax formula so that the minimum residential tax rate is set at 50 percent, unless a higher rate is needed to keep total taxes within a specific limit. The law ensures that the overall tax burden on all property types does not exceed 175 percent of the property's full cash value. This change directly affects homeowners and other property owners in Watertown by altering the specific rates used to determine their annual tax bills.