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MAYOR WU FILES LEGISLATION SEEKING PERMISSION TO INCREASE THE TAX BURDEN ON COMMERCIAL PROPERTIES

On Thursday, March 28, Mayor Wu announced her intention to file a Home Rule Petition with City Council allowing the City to lessen increases in residential property tax bills caused by declining commercial values by temporarily shifting more of the property tax levy onto owners of commercial and industrial properties. The proposal was filed this week with City Council for consideration at Wednesday’s Council Meeting.

On Friday, March 29, The Boston Globe Editorial Board chose not to endorse Mayor Wu’s proposal, and instead stated their agreement with NAIOP’s position, suggesting that the City consider diversifying revenue streams.

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