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bills
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This bill changes how property taxes are assessed for certain reserved areas in condominium developments. If a developer (declarant) reserves the right to add or remove property in the master deed, the tax on that reserved portion can be calculated based on the land value before the condo was created, minus any later improvements taxed to the developer. The tax lien attaches to the reserved right itself, not the common areas. When the reserved right expires, the tax lien transfers to new condo units created after the assessment (but not to units already separately taxed that year), and any extended reserved rights must be recorded before being taxed.
This bill caps annual property tax increases for existing residential homes at 20% of the previous year's tax amount. It also prohibits municipalities from reassessing properties or imposing additional tax hikes for three years after a triggering event, such as the sale of comparable homes in the area. The law applies to homes not classified as new construction or fully reconstructed, and requires the Massachusetts Department of Revenue to monitor compliance and establish appeal processes for homeowners. Homeowners can challenge assessments that violate these limits through existing legal channels.
By Representative Xiarhos of Barnstable (by request), a petition (accompanied by bill, House, No. 3280) of Andrew Macdonald relative to property tax increases. Revenue.
By Representative Mendes of Brockton, a petition (accompanied by bill, House, No. 4051) of Rita A. Mendes for legislation to establish a municipal tax assessment increase limit. 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.
This bill establishes a legal limit on how much municipal property tax assessments can increase annually. It directly affects property owners in towns and cities by capping the yearly rise in their tax assessment values. The key provision sets a specific percentage limit (not stated in the abstract) on assessment increases, preventing sudden large jumps in tax bills. This creates a predictable tax environment for residents without specifying exact rates or exemptions.