The bill titled "An Act relative to property tax classifications in the city of Watertown for fiscal year 2027 and subsequent fiscal years" proposes adjustments to the property tax classifications specifically for Watertown. It allows the commissioner of revenue to modify the minimum residential factor determined under section 1A of chapter 58 of the General Laws. This adjustment is applicable if the standard determination would otherwise be limited by a percentage cap outlined in existing law. The new minimum residential factor is set at 50 percent for fiscal year 2027 and beyond, with provisions for upward adjustments to ensure that the tax levy on any class of property does not exceed 175 percent of the full and fair cash valuation of taxable properties in Watertown.

The bill overrides any conflicting laws, rules, or regulations, thereby granting the commissioner the authority to make these necessary adjustments. It is designed to ensure that the property tax system in Watertown remains equitable and responsive to the city's financial needs. The act will take effect immediately upon passage.