By Representative Donato of Medford and Senator Jehlen, petition (accompanied by bill, House, No. 4403) of Paul J. Donato  and others (with the approval of the mayor and city council) relative to property tax classifications in the city of Medford. Revenue. [Local Approval Received.]

The Commonwealth of Massachusetts

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PETITION OF:

Paul J. Donato

Patricia D. Jehlen

J. James Marzilli, Jr.

Carl M. Sciortino, Jr.

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In the Year Two Thousand and Seven.

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An Act regarding property tax classifications in the city of Medford

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

AN ACT REGARDING PROPERTY TAX CLASSIFICATIONS IN

THE CITY OF MEDFORD

Be it hereby resolved that the Legislature of the Commonwealth of Massachusetts enact legislation to allow the City of Medford to change the limits found in the property tax classification law for allocating the annual property tax levy among residential and business taxpayers as follows, provided, that the Legislature may reasonably vary the form and substance of the requested legislation within the scope of the general public objectives of this petition.

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. Notwithstanding section 1A of Chapter 58 of the General Laws or the provisions of any general law, special law or regulation to the contrary, the Commissioner of Revenue shall further adjust the minimum residential factor of the City of Medford determined under section 1A of said Chapter 58 for fiscal years 2008, 2009 and 2010, if adoption of such factor for either such year would result in the residential property class bearing a higher percentage of the total property tax levy than the percentage of the total property tax levy imposed on the residential property class than in the prior fiscal year. The new minimum residential factor for such year shall be (i) for fiscal year 2008, 50 per cent subject to such adjustment upward as may be required to provide that the percentage of the total tax levy imposed on any class of real or personal property shall not exceed 183 per cent of the full and fair cash valuation of the taxable property of that class divided by the full (ii) for fiscal year 2009 50 per cent subject to such adjustment upward as may be required to provide that the percentage of the total tax levy imposed on any class of real or personal property shall not exceed 179 per cent of the full and fair cash valuation of the taxable property of that class divided by the full and fair cash valuation of all taxable real and personal property in the City of Medford (iii) for fiscal year 2010 50 per cent subject to such adjustment upward as may be required to provide that the percentage of the total tax levy imposed on any class of real or personal property shall not exceed 175 per cent of the full and fair cash valuation of the taxable property of that class divided by the full and fair cash valuation of all taxable real and personal property in the City of Medford.

SECTION 2. This act shall take effect upon its passage