Amendment ID: S2899-6-R1

Redraft Amendment 6

Residential Property Tax Rates

Mr. Rush, Ms. Miranda and Ms. Edwards move that the proposed new draft be amended by inserting the following section:-

Notwithstanding section 1A of chapter 58 of the General Laws or any other general or special law to the contrary, the commissioner of revenue shall  upon acceptance by the city of Boston, adjust the minimum residential factor of the City of Boston determined under said section 1A of said chapter 58 for fiscal years 2027, 2028, and 2029, if adoption of such factor for any such year would result in the residential property class bearing a higher percentage of the total property tax levy than the percentage of the total property tax levy imposed on the residential property class in fiscal year 2025. The new minimum residential factor for such year shall be: (a) for fiscal year 2027, 50 per cent subject to such adjustment upward as may be required to provide that the percentage of the total tax levy imposed on any class of real or personal property shall not exceed 181.5 per cent of the full and fair cash valuation of the taxable property of the class divided by the full and fair cash valuation of all taxable real and personal property in the City of Boston; (b) in fiscal year 2028, 50 per cent subject to such adjustment upward as may be required to provided  that the percentage of the total tax levy imposed on any class of real or personal property shall not exceed 180 per cent of the full and fair cash valuation of the taxable property of the class divided by the full and fair cash valuation of all taxable real and personal property in the City of Boston; (c) in fiscal year 2029, 50 per cent subject to such adjustment upward as may be required to provide that the percentage of the total tax levy imposed on any class of real or personal property shall not exceed 178 per cent of the full and fair cash valuation of the taxable property of the class divided by the full and fair cash valuation of all taxable real and personal property in the City of Boston; (d) in fiscal year 2030 and thereafter, the determination of the minimum residential factor shall be conducted in accordance with the provisions detailed in section 1A of chapter 58. Payments made under section 38H of chapter 59 of the General Laws, and similar provisions of special acts, that are included in the tax levy for purposes of determining the minimum residential factor under said section 1A of said chapter 58 shall be so included in the determination of any factor under this section.