Trisha Solio

All about the New Massachusetts Short Term Rental Law

The new Massachusetts short term rentals law applies to property rentals of less than 31 days. It includes an occupancy tax, statewide registry, insurance requirements, and inspections. Any property rented out for less than 14 days in one year is exempt.

Here are 2 great resources for information about the new law:

 

https://www.marealtor.com/members/legal-resources/short-term-rentals

https://www.mass.gov/info-details/short-term-rentals-frequently-asked-questions

 

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    Live in the home you own in Boston? Reduce your property taxes, file for the Residential Exemption

    If you own and live in your Boston property as a primary residence, you may qualify for the residential exemption. The residential exemption reduces your tax bill by excluding a portion of your residential property’s value from taxation. This year, the residential exemption saves qualified Boston homeowners up to $2,538.47 on their tax bill.

    Your exemption amount is applied to your third-quarter tax bill that is issued in late December. If you didn’t get the credit on your bill and think you should have, you can apply for a residential exemption.

    For Fiscal Year 2018, you have until April 2, 2018, to file an application.

    You need to have owned and lived in your home as your primary residence on January 1 before the current fiscal year. For example, to be eligible for Fiscal Year 2018 (July 1, 2017 to June 30, 2018), you need to have owned and occupied your property as your primary residence on January 1, 2017.

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