Boston eyes commercial tax rise to counter office market dip
Boston Mayor Michelle Wu is seeking to raise commercial property tax rates to help protect home owners from the brunt of the historic slump in office property values.
Ms Wu has submitted a petition for a temporary increase in the city’s tax rate ceiling for commercial properties relative to residential levies. The proposal aims to redistribute the tax burden while continuing to fully fund all city services, according to Boston’s chief financial officer, Ashley Groffenberger. The tax adjustment won’t raise additional revenue for the city.
Bloomberg
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