AN ACT RELATIVE TO AN INCREASE IN THE EXEMPTION FOR RESIDENTIAL REAL PROPERTY IN THE CITY OF BOSTON.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Notwithstanding section 5C of chapter 59 of the General Laws or any other general or special law to the
contrary, with respect to each parcel of real property classified as Class One,
residential, in the city of Boston as certified by the commissioner of revenue
to be assessing all local property at its full and fair cash valuation, and at
the option of the mayor, with the approval of the city council, there shall be
an exemption equal to not more than 30 per cent of the average assessed
value of all Class One, residential, parcels within the city of Boston. Such
an exemption shall be applied only to the principal
residence of the taxpayer as used by the taxpayer for income tax purposes.
This exemption shall be in addition to any exemptions allowable under
section 5 of chapter 59 of the General Laws; provided, however that in no
instance shall the taxable valuation of such property, after all applicable
exemptions, be reduced to below 10 per cent of its full fair cash valuation,
except through the applicability of section 8A of chapter 58 of the General
Laws and clause Eighteenth of section 5 of chapter 59 of the General Laws.
Where, under the provisions of said section 5, the exemption is based upon an
amount of tax rather than on valuation, the reduction of taxable valuation for
the purposes of the preceding
sentence shall be computed by dividing the said amount of the tax by the
residential tax rate of the city of Boston and multiplying the result
by $1,000.00. For purposes of this paragraph, "parcel" shall
mean a unit of real property as defined by the assessors in accordance with the
deed for such property and shall include a condominium unit.
A taxpayer aggrieved by the failure to receive such
residential exemption may apply for such residential exemption to the assessors
in writing on a form approved by the board of assessors within three months
after the date on which the bill or notice of assessment was sent.
An application timely filed hereunder shall, for the purpose of this
chapter, be treated as a timely filed application pursuant to
section 59 of chapter 59of
the General Laws.
This act shall take effect upon its passage.