A request for the City Council to adopt a statutory small business exemption for personal property accounts equal to or less than $10,000.00 in assessed value, and if approved as a special act by the Legislature and Governor of the Commonwealth, for personal property accounts equal to or less than $20,000.00 in assessed value

The following property shall be exempt from taxation . . . Fifty-fourth. Personal Property, if less than an amount established by the city or town, but not in excess of $10,000 of value. This clause shall take effect upon its acceptance by a city or town, which shall establish a minimum value of personal property subject to taxation and may modify the minimum value by vote of its legislative body.

A personal property tax exemption is one part of the City’s effort to assist small businesses in the City, and now, therefore be it

ORDERED:

ORDERED: That the City Council goes on record accepting the provisions of Massachusetts General Laws Chapter 59 §5, clause fifty fourth, which allows for an exemption for personal property tax not in excess of $10,000 of value; and be it further

That the City Manager direct City departments to institute the full personal property tax exemption of $10,000 of value as soon as practicable.

In City Council April 6, 2020. Adopted by a yea and nay vote:-

Yeas 9; Nays 0; Absent 0. Attest:- Anthony I. Wilson, City Clerk A true copy; ATTEST:-

Anthony I. Wilson

City Clerk