Proposition 2½ property tax limits
E944771
Proposition 2½ property tax limits are Massachusetts laws that cap how much cities and towns can raise property taxes each year and in total, significantly constraining local revenue growth.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
Massachusetts state law
ⓘ
property tax cap ⓘ tax limitation policy ⓘ |
| adoptedBy | Massachusetts voters ⓘ |
| adoptionMethod | statewide ballot initiative ⓘ |
| affects |
local government services funding
ⓘ
municipal bond ratings ⓘ public school funding ⓘ |
| allowsExceptionVia |
capital outlay expenditure exclusion
ⓘ
debt exclusion ⓘ override ⓘ |
| alsoKnownAs |
Prop 2½
NERFINISHED
ⓘ
Proposition 2 1/2 NERFINISHED ⓘ |
| appliesInJurisdiction | Commonwealth of Massachusetts NERFINISHED ⓘ |
| appliesTo |
Massachusetts cities
ⓘ
Massachusetts towns ⓘ |
| codifiedIn | Massachusetts General Laws Chapter 59 Section 21C NERFINISHED ⓘ |
| constrains |
local revenue growth
ⓘ
municipal budget growth ⓘ |
| createsIncentiveFor |
economic development to increase new growth
ⓘ
greater reliance on state aid ⓘ use of overrides to fund services ⓘ |
| enforcedBy | Massachusetts Department of Revenue Division of Local Services NERFINISHED ⓘ |
| hasComponent |
annual levy increase limit
ⓘ
levy ceiling ⓘ |
| hasPolicyGoal |
constrain size of local government
ⓘ
limit growth of property taxes ⓘ provide tax relief to property owners ⓘ |
| impacts |
commercial property taxpayers
ⓘ
residential property taxpayers ⓘ |
| implementedBy | Massachusetts Department of Revenue NERFINISHED ⓘ |
| influences |
local tax policy decisions
ⓘ
municipal budget override campaigns ⓘ municipal service levels ⓘ |
| isSubjectOf |
Massachusetts municipal finance debates
ⓘ
education funding policy discussions ⓘ |
| limitsAnnualLevyIncreaseTo |
2.5 percent of prior year levy
ⓘ
new growth from property development ⓘ |
| regulates |
annual property tax levy increases
ⓘ
maximum property tax levy limit ⓘ municipal property tax levy ⓘ |
| requiresForOverride |
local referendum approval
ⓘ
majority vote of local electorate ⓘ |
| setsLevyCeilingAt | 2.5 percent of full and fair cash value of taxable property ⓘ |
| timePerspective | long-term structural constraint on local revenues ⓘ |
| typeOfCap |
absolute levy ceiling
ⓘ
rate-of-growth cap ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.