Governor signs tax classification legislation
On Nov. 26, Gov. Mitt Romney signed the first of two separate measures that are intended to stabilize municipal property tax bills and avoid extraordinary increases for residential property tax payers over the next several years, starting this year.
The first measure (Chapter 138 of the Acts of 2003) allows cities and towns to issue preliminary third quarter property tax bills this year while a special commission drafts legislation that would provide municipalities with limited and temporary authority to manage the allocation in property tax burden in order to maintain a traditional balance between residential and business properties.
• DLS Bulletin outlining options under new tax classification law (PDF file, 136K)
Written by John Ouellette
