HOUSE DOCKET, NO. 3550 FILED ON: 1/20/2017
HOUSE . . . . . . . . . . . . . . . No. 3623
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The Commonwealth of Massachusetts
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PRESENTED BY:
Marjorie C. Decker
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act to properly value real estate transactions.
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PETITION OF:
Name: | District/Address: | Date Added: |
Marjorie C. Decker | 25th Middlesex | 1/20/2017 |
Chris Walsh | 6th Middlesex | 2/3/2017 |
HOUSE DOCKET, NO. 3550 FILED ON: 1/20/2017
HOUSE . . . . . . . . . . . . . . . No. 3623
By Ms. Decker of Cambridge, a petition (accompanied by bill, House, No. 3623) of Marjorie C. Decker and Chris Walsh for legislation to properly value real estate transactions for tax purposes. Revenue. |
The Commonwealth of Massachusetts
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In the One Hundred and Ninetieth General Court
(2017-2018)
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An Act to properly value real estate transactions.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Chapter 59 of the General Laws is hereby amended by inserting after section 5N the following section:-
Section 5O. For the purposes of taxation, a trustee of a trust shall, if the disposition of a real property interest of the trust is less than its fair cash valuation, pay to a city or town the amount of the real property tax on any such disposition for the assessed fair cash valuation of such real property according to section 38.