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Malden council sets residential factor at 0.9054, adopts 35% residential exemption
Summary
The Malden City Council voted unanimously to set the residential factor at 0.9054 and adopt a 35% residential exemption, a move councilors said aims to reduce property tax burdens for owner-occupied homes while acknowledging possible indirect effects on renters and absentee landlords.
The Malden City Council unanimously voted to set a 0.9054 residential factor and adopt a 35% residential exemption during its regularly scheduled meeting.
Councilor O'Malley moved to "set a 0.9054 residential factor and to adopt a residential exemption of 35%," a motion seconded by Councilor Cica. Clerk called the roll and the measure passed unanimously by recorded voice and roll call. Council President Linehan announced the motion…
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