Councilors voted 12-1 to approve a new home rule petition that would let Boston move more of its property tax burden to commercial owners, sending the plan to…
Councilors voted 12-1 to approve a new home rule petition that would let Boston move more of its property tax burden to commercial owners, sending the plan to the Massachusetts LegislatureA plan to temporarily shift more of Boston 's property tax burden onto commercial owners is headed back to Beacon Hill after the City Council approved a revised version with a lone objection.
Mayor Michelle Wu announced that she's reached a deal to temporarily raise tax rates for local businesses amid a revenue shortfall. State law allows municipalities to tax residential and commercial real estate at different rates, and to push the commercial rate as high as 175% of what a single, unified rate would have been.
Several of his colleagues disagreed, noting that the topic has been in the spotlight for more than six months. Flynn also contended that the city, whose fiscal 2025 budget is about 8% larger than the prior year, should have sought to cut spending and freeze hiring to help manage a property tax revenue shortfall.
"For those of you who attended the more than 100 hours of budget hearings we held or the six working sessions or dozen public testimony, none of these revenue conversations are a surprise and none of them are rushed," Worrell said."Matter of fact, this body has filed numerous hearing orders on revenue and declining commercial values.
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