Massachusetts H5537 authorizes Salem to raise its local excise tax to fund school and municipal facilities.

Massachusetts H5537 allows the city of Salem to increase its local excise tax on room transfers in accommodations like hotels and motels. The tax increase, from 6% to 8.75%, will fund school and municipal facility projects, including debt service on bonds or notes. Revenue from the tax hike will be deposited into a special fund for these purposes, with any remaining balance available for future use.

Massachusetts H5537 authorizes Salem to raise its local excise tax to fund school and municipal facilities.

Massachusetts H5537 allows the city of Salem to increase its local excise tax on room transfers in accommodations like hotels and motels. The tax increase, from 6% to 8.75%, will fund school and municipal facility projects, including debt service on bonds or notes. Revenue from the tax hike will be deposited into a special fund for these purposes, with any remaining balance available for future use.