Massachusetts H3005 proposes to change local taxation to be based on personal and business income instead of real property taxes.

Massachusetts H3005 seeks to amend local taxation by basing it on personal and business income rather than real property taxes. Cities and towns would calculate their income-based tax rates for residents and businesses by dividing the city or town's levy requirements by the total reported income. The bill outlines specific terms such as "Resident Levy" and "Commercial and Industrial Levy" to define the proportions of the tax levy imposed on personal and business income. If approved by a city or town council, this new taxation method would replace the existing real property tax system.

Massachusetts H3005 proposes to change local taxation to be based on personal and business income instead of real property taxes.

Massachusetts H3005 seeks to amend local taxation by basing it on personal and business income rather than real property taxes. Cities and towns would calculate their income-based tax rates for residents and businesses by dividing the city or town's levy requirements by the total reported income. The bill outlines specific terms such as "Resident Levy" and "Commercial and Industrial Levy" to define the proportions of the tax levy imposed on personal and business income. If approved by a city or town council, this new taxation method would replace the existing real property tax system.