Chief Assessor presenting proposed FY 2026 Tax Classifications and requesting the adoption of a minimum residential factor for FY 2026 and acceptance of Massachusetts General Law Chapter 59 Section 5C, a residential exemption of 35% of average assessed value for owner-occupied properties.

To the Honorable City Council: As Chief Assessor and Chairman of the Somerville Board of Assessors, I respectfully request adoption of the tax levy percentages for the fiscal year 2026 under MGL Chapter 797. In the course of my presentation, I will propose: 1. The adoption of a minimum residential factor for the City in FY 2026. 2. The acceptance of MGL Chapter 59 Section 5C, approving a residential exemption of 35% of average assessed value for owner occupied properties for FY 2026. I will be available at the meeting to answer any questions you may have. Respectfully Submitted, Francis J. Golden, MAA, Chief Assessor and Chairman of the Board of Assessors CONDITION/AMENDMENT CONDITION/AMENDMENT Two motions were approved by Roll Call vote of 11 in favor (Hardt, Wilson, Ewen-Campen, Scott, McLaughlin, Burnley, Sait, Strezo, Clingan, Mbah, Davis), 0 opposed. 1. That this Council adopts a minimum residential factor of 82.816, the legal minimum for the city for FY 2026. 2. That this Council accepts Massachusetts General Law Chapter 59 Section 5C, approving a residential exemption of 35% of average assessed value for owner occupied properties for FY 2026.