Page 22 THE EVERETT ADVOCATE – FRiDAy, ApRil 28, 2023 TAX RELIEF | FROM PAGE 4 estate, as the law currently requires. This is expected to cost $231 million per year. Senior Circuit Breaker Tax Credit: This bill doubles the Senior Circuit Breaker Tax Credit from $1,200 to $2,400. This change is expected to impact over 100,000 taxpayers who own or rent residential property in Massachusetts as their principal residence. This will cost $60 million per year. Rental Deduction Cap: This bill increases the rental deduction cap from $3,000 to $4,000. This is expected to impact about 881,000 Massachusetts taxpayers and cost $40 million per year. Short-term Capital Gains Tax: Massachusetts is among the states with the highest shortterm capital gains tax rate, which is currently 12 percent, and taxes short-term capital gains at a higher rate than long-term capital gains, which are currently taxed at five percent. The bill lowers the shortterm capital gains tax rate to five percent and phases in that change over two years. During year one, short-term capital gains will be taxed at eight percent, before ultimately reaching five percent during year two. This will cost $67 million in year one and ultimately cost $130 million annually, starting in year three of its implementation. Single Sales Factor Apportionment: Currently, most businesses in Massachusetts are subject to a three-factor apportionment based on location, payroll and receipts. To make Massachusetts more attractive to multistate companies, this bill establishes a single sales factor apportionment in Massachusetts based solely on receipts, matching what 39 other states currently do. This change is projected to cost $115 million in year one and ultimately cost $79 million CITY OF EVERETT - LEGAL NOTICE - ZONING BOARD OF APPEALS 484 BROADWAY, ROOM 24 EVERETT, MASSACHUSETTS 02149 To Whom It May Concern: This notice is to inform you that a public hearing will be held on Monday May 15, 2023 at 6:00 PM, Everett City Hall, 3rd Floor George Keverian Hearing Room. All interested parties may attend and opinions will be heard regarding the following petition. Whereas a petition has been presented by: Property Address: Map/Parcel: Building Permit: 445-455 Broadway also 13 Cottage Street L0-01-000001 L0-01-000005 B-22-552 Person Requesting: 445-455 Broadway Corp 306 Main Street Reading, MA 01867-3613 PROPOSAL: Applicant seeks to remove the rear portion of the existing commercial building and a small building at the rear of the property, to renovate and continue to use the remainder of the existing first floor commercial space, and construct a new 4 story addition in the rear for 33 residential units with on grade parking and commercial space under the residential units. No residential units will be located on the first floor. The use designation is mixed use as authorized under Section 6(A)(8) of the Zoning Ordinance. Reason for Denial: Permit was denied in accordance with the City of Everett Zoning Ordinance Appendix A as follows: Violations and Zoning: • The Proposed use of the property as a mixed use (residential and commercial) building requires a special exception from the City Council, Pursuant to Section 6(A)(8) of the Zoning Ordinance or a use variance from the Zoning Board of Appeals. If you seek a special exception from the City Council, you must first obtain a variance from the frontage and lot area requirements of Section 6(A)(8)(a)(1), as set forth below. • Pursuant to Section 6(A)(8)(a)(1), mixed use buildings require lot frontage of at least 200 feet and lot area of at least 30,000 square feet. The lot frontage of the subject property is only 117.85 feet, and the lot area is only 20,774 square feet. A variance from the Zoning Board of Appeals is required. • The proposed Floor Area Ratio (FAR) is 2.22, whereas the maximum allowed under Section 6(B)(2) is 2.0. A variance from the Zoning Board of Appeals is required. • Pursuant to Section 2 (1st par.) of the Ordinance, the applicant has elected to designate the Chelsea Street frontage of the property as its front lot line. Because it is a through lot, proposed for mixed use, no front or rear setback is required. • Because the subject property abuts a lot containing a three-family structure, and the proposed structure exceeds 30 feet in height, a side setback of 7 feet is required, pursuant to Section 6(B)(5) of the Ordinance. The existing structure is nonconforming, and the proposed development will result in a substantial height increase within the nonconforming setback. A special permit is required from the Zoning Board of Appeals to alter the nonconforming structure, pursuant to Section 3(C) of the Ordinance. • Note also that the project will require compliance with Transportation Demand Management under Section 35 of the Ordinance. MARY GERACE - Chairman Roberta Suppa - Clerk of the Board of Appeals April 28, May 5, 2023 annually, starting in year two of its implementation. Earned Income Tax Credit (EITC): This bill increases the EITC from 30 percent to 40 percent of the federal credit. This is expected to impact about 396,000 taxpayers with incomes under $57,000, and cost $91 million. Additional Reforms: In addition to tax relief, the bill changes Chapter 62F of the Massachusetts General Laws, which triggered nearly $3 billion in taxpayer refunds in 2022. This law requires that excess revenue be returned to taxpayers when tax revenue collections in a given fiscal year exceed an annual tax revenue cap. Currently, the credit is applied to the personal income tax liability of all taxpayers on a proportional basis, resulting in higher credits for those who paid CELEBRATES | FROM PAGE 7 their research going forward. LZC Director Dr. Jessica Santos highlighted a recent report that the Center co-produced with the Boston Mayor’s Office of Immigrant Advancement, Weaving Well-being, as an example of the type of community-engaged research they do, which centers the perspectives and work of immigrant leaders and communities. She said, “I’m thrilled with today’s turnout and the deep, cross-sector dialogues that took place. Our research reinforces the fact that more in taxes. The bill adjusts the credit to an equal amount per taxpayer, rather than a rebate based on a percentage of what taxpayers paid the Commonwealth. The bill also adjusts the Stabilization Fund cap, which currently requires that if the amount remaining in the fund at the end of a fiscal year exceeds 15 percent of the budgeted revenues and other financial resources pertaining to budgeted funds, the excess funds must be transferred to the Tax Reduction Fund, which would then be transferred to taxpayers through one-time increases in the personal exemption allowable against income tax liability. The bill adjusts the cap to 25.5 percent, which allows the Commonwealth’s savings account to retain more funding. social and structural factors such housing, jobs, power dynamics, and narratives are powerful determinants of health and well-being. We need evidence-based policies that incorporate global knowledge and advance equity. Advancing immigrant health takes all of us.” LZC is based in Malden, Mass., at ICH, a nonprofit consulting organization cofounded by community health system Cambridge Health Alliance. Follow LZC at immigranthealth. org or contact LZC@icommunityhealth.org. CITY OF EVERETT - LEGAL NOTICE - ZONING BOARD OF APPEALS 484 BROADWAY, ROOM 24 EVERETT, MASSACHUSETTS 02149 To Whom It May Concern: This notice is to inform you that a public hearing will be held on Monday, May 15, 2023 at 6:00 PM, Everett City Hall, 3rd Floor George Keverian Hearing Room. All interested parties may attend and opinions will be heard regarding the following petition. Whereas a petition has been presented by: Property Address: Map/Parcel: Permit Number: 71 Chestnut Street M0-01-000107 B-22-965 Person Requesting: Mr. Octavio DaSilva 24 Auburn Street Rear Everett, MA 02149 PROPOSAL: To create a parking area in the front and left side yards of the property (Hall Avenue Side). Violations and Zoning: Section 17 Off-Street Paragraphs J, K, and M. MARY GERACE - Chairman Roberta Suppa - Clerk of the Board of Appeals April 28, May 5, 2023
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