760 C.M.R. 76.10 – Residential Exemption

(1) Pursuant to M.G.L. c. 23B, § 32(f), a Seasonal Community that has adopted the Residential Property Tax Exemption, may, at the option of the board of selectmen or mayor, with the approval of the city council, as the case may be, increase such exemption to not more than 50% of the average assessed value of all class one, residential, parcels within such city or town.
(2) Upon request by the Commissioner, a Seasonal Community shall provide to the Commissioner evidence of its acceptance of the Seasonal Community designation and evidence of its vote to increase the residential property tax exemption under 760 CMR 76.10(1). The Commissioner may require modifications to a proposed increase to ensure efficient and lawful administration of local property tax collection, including but not limited to, establishing an effective date for the exemption increase.
(3) A city or town that has revoked a Seasonal Community designation pursuant to 760 CMR 76.03(2) or had a Seasonal Community designation revoked by EOHLC pursuant to 760 CMR 12.00 shall not continue to provide an increase to the Residential Property Tax Exemption pursuant to 760 CMR 76.10(1) and shall be limited to a Residential Property Tax Exemption that does not exceed the maximum exemption provided under M.G.L. c. 59, § 5C.
(4) Nothing in this section shall be construed to modify any other requirements of M.G.L. c. 59, § 5C.