SENATE, No. 2440

By Mr. Downing, a petition (accompanied by bill, Senate, No. 2440) of Benjamin B. Downing, Gailanne Cariddi, Ronald A. Boucher, Marie Harpin and other members of the city council (with the approval of the mayor and
city council) for legislation regarding property tax classification in the city of North Adams. Revenue. {Local approval received.}

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The Commonwealth of Massachusetts

Seal of the Commonwealth of Massachusetts

In the Year Two Thousand and Seven.

AN ACT REGARDING PROPERTY TAX CLASSIFICATION IN THE CITY OF NORTH ADAMS

 

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 other general or special law or regulation to the contrary, the commissioner of revenue shall further adjust the minimum residential factor of the City of North Adams determined under section 1A of said Chapter 58 for fiscal years 2008, 2009 and 2010, if adoption of such factor for any 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 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 and fair cash valuation of all taxable real and personal property in the City of North Adams, (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 North Adams, (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 North Adams.  

SECTION 2. This act shall take effect upon its passage

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