Massachusetts General Laws

Mass. Gen. Laws ch. 59, § 4 (2026)

Property taxable as personal estate

✓ current as of July 2026

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Section 4. Except as provided in the following section and in chapters sixty-two and sixty-three, personal estate for the purpose of taxation shall include:

First, Goods, chattels, money and effects, wherever they are; ships and vessels and their equipment at home or abroad, except as provided in section eight of this chapter, in chapter sixty B and in section sixty-seven of chapter sixty-three.

Second, Money at interest, and other debts due the person to be taxed more than he is indebted or pays interest for; but not including in such debts due him or indebtedness from him any loan on mortgage of real estate, taxable as real estate, except the excess of such loan above the assessed value of the mortgaged real estate.

Third, Public stocks and securities, bonds of railroads and street railways and stocks in turnpikes, bridges and moneyed corporations within or without this commonwealth.

Notes of Decisions

Cited in 8 cases, 1923–1963 · leading case: United States Trust Co. v. Commonwealth, 139 N.E. 794 (Mass. 1923).

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United States Trust Co. v. Commonwealth, 139 N.E. 794 (Mass. 1923). · cites it 2× “G. L. c. 59, § 4, cl. 2; §§ 11 to 14. Sullivan v.”

Opinion of the Justices to the Senate, 159 N.E. 55 (Mass. 1927). “G. L. c. 59, § 4 Third. Doubtless, if the Commonwealth should take title to all property and franchises of the Boston Elevated Railway Company, they would be exempt from all taxation levied under State authority unless authorized by special statute.”

Cent. Nat'l Bank v. City of Lynn, 156 N.E. 42 (Mass. 1927). “Other pertinent provisions of the tax law are G. L. c. 59, § 4: ... “Except as provided in the following section and in chapters sixty-two and sixty-three, personal estate for the purpose of taxation shall include: .”

Lapham v. Tax Comm'r, 244 Mass. 40 (Mass. 1923). “G. L. c. 59, § 4, cl. 1. Although ships are property of a peculiar nature, nevertheless investment in them comes within the same general rules as investments by corporations in other classes of personal property for purposes of gain.”

Milton Sav. Bank v. United States, 187 N.E.2d 379 (Mass. 1963). “*306 G. L. c. 59, § 4, cl. 2; §§ 11 to 14” (page 78).”

Lexington Sav. Bank v. Commonwealth, 252 Mass. 180 (Mass. 1925). · cites it 2× “G. L. c. 59, § 4, cl. 2. Section 8 of the said chapter 304 provided as follows: “Savings banks and institutions for savings, including the Massachusetts Hospital Life Insurance Company, shall not be required to pay to the treasurer of the Commonwealth taxes upon such portion of…”

Barker v. Inhabitants of Fairhaven, 265 Mass. 333 (Mass. 1928). “” Ships and vessels are taxable personal estate under G. L. c. 59, § 4, First. Lapham v. Tax Commissioner, 244 Mass.”

Lee Higginson Safe Deposit Co. v. Commonwealth, 177 N.E. 612 (Mass. 1931). “Compare G. L. c. 59, § 4, with G. L. c-. 63, § 55, Fifth.”

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