Massachusetts S1769 amends tax laws to reform payments in lieu of taxes for state-owned land.

Massachusetts S1769 amends the tax laws to reform payments in lieu of taxes for state-owned land. The bill removes the definition of "reimbursement percentage" and modifies section 17 to specify that the state treasurer must reimburse cities and towns annually by November 20. The reimbursement amount is based on the aggregate valuation of all cities and towns for the three preceding years, approved by the commissioner. The amount reimbursed cannot be less than that paid in the prior year, except for the value of land removed from the annual statement of fair cash valuation.

Massachusetts S1769 amends tax laws to reform payments in lieu of taxes for state-owned land.

Massachusetts S1769 amends the tax laws to reform payments in lieu of taxes for state-owned land. The bill removes the definition of "reimbursement percentage" and modifies section 17 to specify that the state treasurer must reimburse cities and towns annually by November 20. The reimbursement amount is based on the aggregate valuation of all cities and towns for the three preceding years, approved by the commissioner. The amount reimbursed cannot be less than that paid in the prior year, except for the value of land removed from the annual statement of fair cash valuation.