An Act relative to property tax classification in the city of Boston

This bill modifies how property taxes are calculated in Boston for fiscal years 2025 through 2027 to prevent residential property owners from paying a larger share of the total tax levy compared to the previous year. It sets a minimum residential tax factor at 50 percent, with specific caps on how much of the total tax burden any single property class can bear, which gradually decreases from 181.5 percent in 2025 to 178 percent in 2027. Additionally, the legislation allows the city to exempt personal property valued at $30,000 or less from taxation and authorizes the city to spend up to $15 million in grants to support small businesses if commercial property taxes exceed a certain threshold.