Taxes on the House: A Sophisticated Seminar on Local Property Taxes
Jay Darby explained exactly how local property tax is administered by local city and town jurisdictions within the framework of Massachusetts law. Although each town assesses its own taxes, the regime is governed by state-wide law, administered in some respects by the DOR and uniform throughout the Commonwealth.
This program explored the arcane limitations on taxation under Proposition 2 ½, the reallocation and reapportionment of the tax burden permitted to each city and town, the process by which the tax assessment is determined by each city and town, the procedural requirements for appealing a local tax assessment, and strategies for minimizing local property tax, including everything from valuation litigation before the Appellate Tax Board to ownership strategies involving S corporations and LLCs. The program also discussed possible strategies for minimizing Massachusetts transfer taxes on a sale of real estate.