Massachusetts H3191 amends the taxation of condominiums by adjusting the assessment of common areas and facilities.

Massachusetts H3191 modifies the taxation of condominiums by altering the assessment of common areas and facilities. Specifically, it allows the board of assessors to separately assess these areas at a value equal to the land value prior to recording the master deed, minus the value of any separately taxed improvements. The lien for these taxes attaches to the right or interest assessed but not to the units themselves. This change affects condominiums where the declarant has reserved rights to add or withdraw real estate.

Massachusetts H3191 amends the taxation of condominiums by adjusting the assessment of common areas and facilities.

Massachusetts H3191 modifies the taxation of condominiums by altering the assessment of common areas and facilities. Specifically, it allows the board of assessors to separately assess these areas at a value equal to the land value prior to recording the master deed, minus the value of any separately taxed improvements. The lien for these taxes attaches to the right or interest assessed but not to the units themselves. This change affects condominiums where the declarant has reserved rights to add or withdraw real estate.