Boston Mayor Michelle Wu proposes shifting property tax burden from residents to commercial properties to prevent a 33% tax increase.
Boston Mayor Michelle Wu is advocating for a property tax shift plan to ease a potential 33% tax increase for residents due to declining office property values. Her proposal, supported by seniors lobbying at the State House, seeks to raise commercial property taxes instead. Critics warn it could harm small businesses and affect long-term financial stability. The Massachusetts Senate has yet to act on the plan, which must be approved by November to avoid significant tax hikes.
September 25, 2024
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