Local

Homeowners could see 13% increase in property taxes, Wu pushed back with tax relief bill

BOSTON — Boston homeowners could face another major jump in property taxes.

The city says single family homes will most likely see a 13% spike next year, but that tax increase is being met with pushback.

Proposed legislation by Mayor Michelle Wu would give the city the ability to shift more of the city’s tax burden to commercial properties beyond the 175% limit allowed by the state, but it hasn’t been successful.

“Boston is a world class city, and it is time that we ensure our public resources reflect that,” said President of the Boston Teacher’s Union, Eric Berg.

This is the second year in a row the state would see double-digit increases.

For the average homeowner, that means next year’s tax increase would mean an extra $780 a month. For some even more.

Commercial property values declined by 6%, while residential values went up by 2%.

This means homeowners pick up the slack with a bigger share of the city’s budget.

“Commercial values fell more this year than last year and the mayor’s tax shift was based on the idea that this was a temporary lull and what it now looks like is there is something very wrong with Boston’s commercial values that need to be fixed and there’s nothing on the table to correct the problem.”

—  Boston Policy Institute's Executive Director Gregory Maynard

Maynard says even if Mayor Wu’s proposal passes, residents should still brace themselves for property tax increase.

This is a developing story. Check back for updates as more information becomes available.

Download the FREE Boston 25 News app for breaking news alerts.

Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW

0