Agenda Summary
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Requesting acceptance of Massachusetts General Law, Chapter 59, Section 5, Clause 22I, to authorize an annual cost of living adjustment increase in the exemption amount granted under Chapter 59, Section 5, Clauses 22, 22A, 22B, 22C, 22E and 22F.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council accept Massachusetts General Law, Chapter 59, Section 5, Clause 22I, which authorizes an annual increase in the amount of the exemption granted under M.G.L Chapter 59, Section 5, Clause 22, 22A, 22B, 22C, 22E and 22F by the percentage increase in the U.S. Department of Labor, Bureau of Labor Statistics, Consumer Price Index for the previous year as determined by the Commissioner of Revenue. This would be effective for applicable exemptions granted for any fiscal year beginning on or after July 1, 2026. This new local option was created through section 23 of Chapter 178 of the Acts of 2024, An Act Honoring, Empowering and Recognizing Our Servicemembers and Veterans (“HERO” Act).
Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this item.
Respectfully Submitted,
Jake Wilson, Mayor