By Representative Hall of Westford and Senator Panagiotakos, joint petition (accompanied by bill, 2941) of Geoffrey D. Hall, James E. Timilty and another relative to the classification of real property. Revenue.

The Commonwealth of Massachusetts

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PETITION OF:

Geoffrey D. Hall

Steven C. Panagiotakos

Robert Hermann

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In the Year Two Thousand and Seven.

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An Act relative to the classification of real property.

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1.  The first paragraph of section 56 of chapter 40 of the General Laws, as appearing in the 2002 Official Edition, is hereby amended by striking out the second and third sentences and inserting in place thereof the following two sentences:—
Once certified, a city or town may classify in the manner set out in this section for the following three years. The selectmen or town council of each town and the city council together with the mayor’s approval in each city, which city or town has been certified by the commissioner of revenue to be assessing property at full and fair cash valuation, shall triennially first determine the percentages of local tax levy to be borne by each class of real property, as defined in section two A of chapter fifty-nine, and personal property for the next three fiscal years; provided, however, that if the mayor vetoes the city council’s percentages, in a city, the city council may override such veto with a vote equal to two-thirds of the members elected. In determining such percentages, the selectmen, town council or the city council, together with the mayor’s approval, as the case may be, shall first adopt a residential factor; provided, however, that if the mayor vetoes the city council’s factor, in a city, the city council may override such veto with a vote equal to two-thirds of the members elected.