Establishes a limit on municipal tax assessment increases in Massachusetts.

The bill amends Section 56 of Chapter 40 of the General Laws to give cities and towns discretionary authority over certain tax assessments. Specifically, it allows municipalities to determine the residential tax rate factor shift and the portion of the tax levy to be paid by commercial, industrial, and personal property classes. Additionally, it permits municipalities to apply for hardship to cover tax levy shortfalls, with the amount not exceeding 5% of the total tax levy. This change aims to provide flexibility in managing local tax policies.

Establishes a limit on municipal tax assessment increases in Massachusetts.

The bill amends Section 56 of Chapter 40 of the General Laws to give cities and towns discretionary authority over certain tax assessments. Specifically, it allows municipalities to determine the residential tax rate factor shift and the portion of the tax levy to be paid by commercial, industrial, and personal property classes. Additionally, it permits municipalities to apply for hardship to cover tax levy shortfalls, with the amount not exceeding 5% of the total tax levy. This change aims to provide flexibility in managing local tax policies.