ENCOURAGE PROPERTY IMPROVEMENTS PROPOSAL REVENUE COMMITTEE HEARINGS ON BEACON HILL


By Bob Katzen 

On May 1 at 10 a.m. in Room B-2 in the Statehouse there was a proposal that would allow homeowners living in a home worth $500,000 or less to deduct the cost of any home improvements from their property tax. The owner can deduct 100 percent of the increase in the tax liability because of the cost of the improvements in the first year and 50 percent of the costs in the second year. The deductions would be allowed only if a community votes to opt into this new incentive.

   

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