Agenda Text
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Requesting the adoption of MGL c59 s5C 1/2, to approve an optional additional real estate tax exemption.
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Official Text
To the Honorable Board:
As you know, we have approved the "up to double" allowance on our statutory exemption base amounts each year at our classification hearing. Authority for this approval was authorized under Chapter 73, section 4 of the Acts of 1986. Chapter 73, section 4 of the Acts of 1986 has been repealed and the authority to allow the additional real estate exemption has been newly added to the MGL in Chapter 59, section 5C 1/2. To be effective for Fiscal Year 2016, the Board must adopt the new provision by July 1, 2015. As such, I am recommending that we authorize an additional exemption up to 100 percent of the base exemption amounts as we have done so in the past. A Board order is included in the attachment.
Respectully Submitted,
Joseph A. Curtatone, Mayor