This bill amends property tax assessment rules to require local assessors to consider recorded restrictions on a property's use when determining its fair cash value for taxation. It specifically affects affordable housing properties that have legal limits on rent or sale prices documented in their deeds. The key change mandates that assessors factor these restrictions into valuation calculations, rather than treating all properties equally under current rules. This adjustment aims to ensure affordable housing is taxed based on its actual restricted use, potentially lowering tax burdens for qualifying properties.
HD 3512 modifies Massachusetts property tax rules for manufacturing corporations. It phases out the tax on manufacturing corporations' tangible property (like raw materials) over time, reducing the rate from $2.00 per $1,000 in 2026 to $0.00 by 2030. Non-manufacturing corporations remain subject to a flat $2.60 per $1,000 rate. The bill directly affects manufacturing businesses operating in Massachusetts, altering how they calculate state property tax liability. The change applies to property held as raw materials for manufacturing within the state.
This bill requires certain large tax-exempt organizations in Massachusetts to pay 25% of the property tax they would owe if their property were taxable. It applies to organizations owning property valued at $15 million or more in cities or towns that adopt the provision. Key exceptions include "High Public Payment Hospitals" defined under state law, which remain fully exempt. The bill establishes a clear payment mechanism but does not change existing tax exemptions for qualifying nonprofits. Municipalities must first approve the provision through local vote to implement it.
This bill (HD 1743) increases tax exemptions for senior homeowners and primary residence owners in Massachusetts. It raises the qualifying age for senior exemptions from 35 to 50 years old, doubles the income threshold for primary residence exemptions from $4,000 to $8,000 annually, and increases the property tax exemption amount from $500 to $1,000. The bill also significantly expands income limits for married couples (from $7,000 to $90,000 combined) and raises tax rate exemptions from 5% to 10% and 20% to 40%. These changes directly affect Massachusetts homeowners aged 50+ or those meeting the new income thresholds, providing greater tax relief by expanding eligibility.
This bill (HD 164) allows towns to create a property tax cap for homeowners aged 65 or older who meet specific income and asset limits: $50,000 or less annual income for singles, $60,000 for married couples, and $75,000 in assets (excluding their primary home and one vehicle). Eligible homeowners would have their property tax recalculated annually based on their adjusted federal gross income (after excluding certain retirement distributions), with the lower of two calculated tax amounts applied each year. The cap applies only to qualifying properties and requires towns to adopt the provision under existing procedures. It directly affects low-income seniors in participating municipalities by limiting their property tax burden.
This bill (HD 3074) caps annual property tax increases for qualifying senior homeowners in Massachusetts. It applies to Class One residential properties owned and occupied as a primary residence by residents aged 65+ who have lived in the state for 10 years and owned/occupied the property for 5 years. The cap limits annual tax increases to 2.5% (including special local tax overrides), preventing large yearly jumps. Local municipalities must approve the program through their selectmen, mayor, and city council before it applies to their residents.
By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 2052) of Patrick M. O'Connor for legislation to establish a local option to exempt fishermen from property taxes. Revenue.
By Mr. Brady, a petition (accompanied by bill, Senate, No. 1928) of Michael D. Brady for legislation to establish a municipal tax assessment increase limit. Revenue.
By Mr. Lewis, a petition (accompanied by bill, Senate, No. 2036) of Jason M. Lewis for legislation to authorize the establishment of a mean tested senior citizen property tax exemption. Revenue.
This bill changes how interest is calculated on late real estate and personal property tax payments in Massachusetts. It replaces a fixed 14% interest rate with a provision allowing local governments (like city councils or town meetings) to set interest rates "up to 14%" based on their own decisions. Local tax collectors can now also waive late fees or create payment plans for taxpayers with unpaid balances. The law directly affects property owners who miss tax deadlines by altering the financial penalties and offering flexibility. It focuses on giving municipalities control over interest rates and providing relief options for taxpayers.
