Hey, there! Log in / Register
Wu, business leaders reach compromise on possible property-tax increase
By adamg on Sun, 10/20/2024 - 2:49pm
Scott Van Vorhis reports a possible deal between Mayor Wu and the heads of area businesses and local commercial property owners on a plan that would let Boston temporarily increase taxes on commercial property to minimize the amount city homeowners would see their bills go up because of the Covid-related decline in property values downtown - just by a smaller amount than Wu had originally proposed. The move still needs the approval of the legislature and governor.
Free tagging:
Ad:
Support Universal Hub
Help keep Universal Hub going. If you like what we're up to and want to help out, please consider a (completely non-deductible) contribution.
Comments
Mayor Wu
An 8% increase in the city budget. Where are the cuts?
Look at the city’s list of Dept.
How can she try and say there nothing that can be cut. Some of these are ridiculous.
https://www.boston.gov/departments
Have a feeling next year is going to be worse if this is her strategy.
does “ridiculous” mean unnecessary?
or does it mean “i don’t know what this department does so it needs to be cut”
Where is your mind?
Inflation happened. It was a thing.
Meanwhile, home rule means that cities and towns pay for all the things that went up in price.
Look up how this works someplace.
yes inflation happened
but it seems like only the sacred cow government workers and unions have kept up. The private sector squirrels have the same number of trees to forage.
Funny thing about the private
Funny thing about the private sector....it's not the government. So it's up to your bosses to determine if your incomes should increase along with inflation.
Whip Inflation Now!
I'm old.
So what? My income did not
So what? My income did not go up as fast as inflation either. I had to cut back on things. There is no need for some of the new staff positions she added. And right size BPS. We need a leader who will do what is needed even if that means they won't be reelected. She is not that.
This is why we created the
This is why we created the Office of Participatory Budgeting (OPB). Instead of asking pointless questions into the void of Universal Hub, you can attend their office hours (2-4pm every other Tuesday outside of summer season) and do it there.
Can you tell us what you think should be cut?
Please, be specific.
Oh! I got this one
All the line items that make up the 8% increase should go back to their previous funding levels.
Now tell me why the budget should increase by 8% when there’s a funding issue at the current levels. Please, be specific.
I remember there was no plan
I remember there was no plan B. Did we go straight to plan C or F?
When was the last time the budget decreased?
3 to 5 percent increases seem the norm.
Last business out of Boston turn the lights out please
I see someone hasn't visited
I see someone hasn't visited the Seaport or Back Bay lately. Truest test of a city's health is its residential real estate values. Never been higher.
By that meaure
The entire United States is doing great!
If you're going to use property valuations as a proxy for health of a city (questionable), commercial property is a better metric.
wrong target
If commercial real estate is in a slump, it's a horrible idea to raise taxes on it to make it worse.
The sector that could use a tax increase is rental housing. Owners of those properties have been making tons of money due to increasing demand. Raise taxes on those properties. The owners can afford it.
Tenants cannot afford further taxes on rental properties
If you raise taxes on rental properties, those taxes will be passed on as further rent increases.
The commercial owners are greedy
They can always lower rents, and take profits over a longer period of time.
Increased residential taxes will lead to higher rents.
You a business shill?