HOUSE DOCKET, NO. 1736        FILED ON: 1/18/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2691

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

James Arciero

_________________

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 relative to the valuation of long term residences.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

James Arciero

2nd Middlesex

1/17/2023

Peter Barbella

62 Goldsmith Street, Littleton, MA 01460

1/17/2023


HOUSE DOCKET, NO. 1736        FILED ON: 1/18/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2691

By Representative Arciero of Westford, a petition (accompanied by bill, House, No. 2691) of James Arciero and Peter Barbella relative to the assessed property tax valuation of certain long term residences.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 5002 OF 2021-2022.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Third General Court
(2023-2024)

_______________

 

An Act relative to the valuation of long term residences.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION  1:    Chapter 59 of the general laws is hereby amended by inserting after section 38, as appearing in the 2018 official edition, the following section:-

Section 38 1/2     In a city or town that accepts this section, the assessed valuation of real property owned by a person who has occupied said property for 30 years, shall be set at the valuation of the property pursuant to section 38 in the thirtieth year of domicile; provided, however, that said owner's income shall not exceed 100 percent of the area median income as determined by the federal Department of Housing and Urban Development; and provided further, that said owner shall not have more than $100,000 in liquid assets, excluding the value of their domicile.  Said valuation shall not increase unless and until the real property is sold or transferred.