State 62F tax refunds likely to be proportional to what you paid in

From the State House News Service today –

Budget Chief: Tax Relief Expected In “Proportion Paid In”
Heffernan Says Relief Timeline Is “As Quickly As Possible”

Chris Lisinski
9/14/22 10:58 AM

SEPT. 14, 2022…..Massachusetts taxpayers struggling with sky-high inflation should expect to get their chunk of a nearly $3 billion state surplus pot “in the proportion that they paid in,” a top Baker administration official said Tuesday.

However, details about when and how money will flow back to Bay Staters remain unclear one week before the Sept. 20 deadline for Auditor Suzanne Bump to certify the Baker administration’s estimate of $2.94 billion in excess tax revenue that must be returned under the 1986 voter-approved law known as Chapter 62F.

Addressing municipal officials at a meeting, Administration and Finance Secretary Michael Heffernan did not shed any light Tuesday on whether the relief would take the form of credits, rebates or something else.

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