Session Laws

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

Section 21C of chapter 59 of the General Laws is hereby amended by striking out paragraph (f), as amended by section 2 of chapter 641 of the acts of 1983, and inserting in place thereof the following paragraph:- (f) In any city or town in which the total taxes assessed result in a percentage which is less than or equal to the limits imposed pursuant to paragraph (b), the total taxes assessed for any fiscal year shall not exceed an amount equal to one hundred and two and one-half per cent of the maximum levy limit for the preceding fiscal year as determined by the commissioner of revenue; provided, however, that the total taxes assessed may be further increased by those amounts approved in accordance with the provisions of paragraph (g); and provided further, that the total amount of taxes assessed for the then current fiscal year may be increased by an amount equal to the tax rate for the preceding fiscal year multiplied by the amount of increase in the assessed valuation of any parcel of real, or article of personal property over the assessed valuation of such property during the prior year which shall become subject to taxation for the first time, or taxed as a separate parcel for the first time during such fiscal year, or class one and class two property, as defined in section two A, which has had an increase in its assessed valuation of no less than fifty per cent over the prior year's valuation unless such increased assessed valuation is due to a certified revaluation of the entire city or town, or class three and class four property, as defined in said section two A, and personal property which has had an increase in its assessed valuation of no less than one hundred thousand dollars or fifty per cent, whichever is less, over the prior year's valuation unless such increased assessed valuation is due to a certified revaluation of the entire city or town.