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Boston could face revenue shortfalls from empty office buildings

Radio Boston talks about a new report detailing potential tax revenue shortfalls due to office buildings remaining empty after the pandemic.

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Boston Mayor Pitches Commercial Tax Rate Hike

Boston Mayor Pitches Commercial Tax Rate Hike
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Boston eyes commercial tax rise to counter office market dip

Boston eyes commercial tax rise to counter office market dip
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Boston mulls commercial tax hike

Boston mulls commercial tax hike
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Boston Eyes Commercial Tax Hike to Counter Office Market Dip

Boston Mayor Michelle Wu is seeking to raise commercial property tax rates to help protect homeowners from the brunt of the historic slump in office property values.

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Wu touts city planning department vote, but questions remain

The mayor sees the ordinance as delivering on a key campaign promise to overhaul the agency, which historically has faced criticism for its role in overseeing development across the city.

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Vacant office buildings create a tax revenue problem for cities

Over the next five years, Boston could face a tax revenue shortfall to the tune of $1.2 to $1.5 billion, according to a new study from the Boston Policy Institute.

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As office real estate slumps, Boston budget could take a hit

The declining value of Boston’s office buildings could mean the city will face a revenue shortfall of between $1.2 billion and $1.5 billion over the next five years.

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Report: Boston faces more than $1 billion tax shortfall due to empty offices

Boston will likely lose $1.4 billion in tax revenue over the next five years, according to a report by the Boston Policy Institute. The city also could face an ongoing shortfall of about $500 million a year after that.

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Boston Faces $1 Billion Tax Deficit From Faltering Office Market

(Bloomberg) -- Tumbling market values for office buildings are poised to cost Boston more than $1 billion in tax revenue over the next five years, as the pitfalls of the pandemic and hybrid work continue to reverberate through city budgets.Most Read from BloombergJapan Loses Its Spot as World's Third-Largest Economy as It Slips Into RecessionIsrael Quits Ceasefire Talks Over ‘Delusional’ Hamas DemandsTrump Eyes NATO Makeover, Hurried Peace in Ukraine If ElectedThe Brutal Reality of Plunging Offi

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