Massachusetts H3205 updates property tax collection laws, modifying procedures for property sales and excess equity distribution.

Massachusetts H3205 amends property tax collection laws by updating procedures for property sales and excess equity distribution. It removes references to "Class one, residential" property and adjusts the process for submitting claims and serving notices. The bill also modifies the timing and method for paying excess equity to former property owners or their representatives. Additionally, it changes the percentage for land taken or sold, setting it at 16% for land taken or sold before November 1, 2024, and 8% for land taken or sold on or after that date.

Massachusetts H3205 updates property tax collection laws, modifying procedures for property sales and excess equity distribution.

Massachusetts H3205 amends property tax collection laws by updating procedures for property sales and excess equity distribution. It removes references to "Class one, residential" property and adjusts the process for submitting claims and serving notices. The bill also modifies the timing and method for paying excess equity to former property owners or their representatives. Additionally, it changes the percentage for land taken or sold, setting it at 16% for land taken or sold before November 1, 2024, and 8% for land taken or sold on or after that date.