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Property Tax Hike on CRE Proposed to Close Boston Budget Gap

Mayor wants to shift onus of filling fiscal gap to commercial property owners.

To offset the decline of office property values—which in turn is creating looming budget gaps for the city—Boston’s mayor has proposed to raise the property tax rate ceiling for commercial properties while leaving the rate unchanged for homeowners.

Mayor Michelle Wu is petitioning for a temporary increase of the city’s tax-rate ceiling for commercial properties, to be phased in over three years, aiming to redistribute the tax burden while continuing to fund all city services.

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Jack Rogers

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