An Act relative to a bifurcated property tax

This bill allows Massachusetts cities and towns to opt into a system where property taxes are split into two separate rates. Under this new option, one rate would apply to the value of a home's living space, while a different, potentially higher rate would apply to the value of the land. Municipalities that choose to adopt this plan would need to vote to establish the specific tax rates for each category. The legislation does not force any town to use this system; instead, it provides an additional tool for local governments to manage their property tax collections.