Massachusetts H3022 provides property tax relief for small businesses with 50 or fewer employees and an assessed property value under $1 million.

Massachusetts H3022 introduces a property tax exemption for small businesses. This exemption applies to businesses with 50 or fewer employees and an assessed property value below $1 million. The exemption is limited to 10% of the average assessed value of all class 3 commercial property. This relief is available in cities and towns that assess all property at full and fair cash valuation, at the option of the board of selectmen or mayor, with city council approval.

Massachusetts H3022 provides property tax relief for small businesses with 50 or fewer employees and an assessed property value under $1 million.

Massachusetts H3022 introduces a property tax exemption for small businesses. This exemption applies to businesses with 50 or fewer employees and an assessed property value below $1 million. The exemption is limited to 10% of the average assessed value of all class 3 commercial property. This relief is available in cities and towns that assess all property at full and fair cash valuation, at the option of the board of selectmen or mayor, with city council approval.