Establishes a limit on the annual increase of municipal tax assessments for residential real property in Massachusetts.

The bill proposes to amend the General Laws of Massachusetts to allow local appropriating authorities to limit the annual increase on the total taxes assessed on residential real property. The limit would be set at 3% of the annual increase or the percentage change in the Consumer Price Index, whichever is lower, but not exceeding 10%. This limit would apply automatically if approved by a majority vote in the city or town. The bill also specifies that the limit does not apply to property sales, transfers, or improvements made by the taxpayer.

Establishes a limit on the annual increase of municipal tax assessments for residential real property in Massachusetts.

The bill proposes to amend the General Laws of Massachusetts to allow local appropriating authorities to limit the annual increase on the total taxes assessed on residential real property. The limit would be set at 3% of the annual increase or the percentage change in the Consumer Price Index, whichever is lower, but not exceeding 10%. This limit would apply automatically if approved by a majority vote in the city or town. The bill also specifies that the limit does not apply to property sales, transfers, or improvements made by the taxpayer.