Massachusetts S1929 updates property tax collection laws by modifying procedures for property sales and excess equity payments.

Massachusetts S1929 amends property tax collection laws by adjusting procedures for property sales and excess equity payments. It removes specific references to Class one, residential property, in various sections, standardizing the process for all properties. The bill mandates that judgment holders notify former owners of property sales or retentions and pay any excess equity within 60 days. It also modifies the cost structure for property sales, setting different percentages for properties sold before and after November 1, 2024.

Massachusetts S1929 updates property tax collection laws by modifying procedures for property sales and excess equity payments.

Massachusetts S1929 amends property tax collection laws by adjusting procedures for property sales and excess equity payments. It removes specific references to Class one, residential property, in various sections, standardizing the process for all properties. The bill mandates that judgment holders notify former owners of property sales or retentions and pay any excess equity within 60 days. It also modifies the cost structure for property sales, setting different percentages for properties sold before and after November 1, 2024.