Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 505.0121

505.0121 Trust. A Massachusetts trust, or business trust, is the name given to a business organization wherein property is conveyed to trustees and managed for the benefit of holders of certificates like corporate stock certificates. Thus, they are treated as legal entities for property tax purposes. Being legal entities, Massachusetts trusts or business trusts do not qualify for the homeowners' exemption, and properties owned by such trusts are not eligible for the exemption. C 8/24/2010.