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'Irreparable harm:' Future of Boston commercial tax hike proposal uncertain

'Irreparable harm:' Future of Boston commercial tax hike proposal uncertain
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Wu seeks commercial property tax rate increase to prevent a spike in residential taxes

Mayor Wu plans to file legislation that would allow Boston to increase property taxes on businesses. The move comes as commercial property values have dipped due to inflation and the post-pandemic shift to remote and hybrid work. A recent report found the city may lose $1.4 billion in tax revenue over the next five years due to empty office spaces. ....

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Stopping Boston's 'doom loop' means it must face its tax woes

Doubts loom about whether shifting the tax burden when commercial real estate is already in trouble is the answer. ....

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Boston faces $1.5 billion shortfall from declining commercial property taxes, report warns

A city official downplayed the financial threat to the city. ....

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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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