Applications for property tax abatements in Boston have continued a downward trend by decreasing to 2,349 in fiscal year 2013, a reduction of 38.1 percent over the three years from fiscal year, the most recent full year when all properties were evaluated, according to a new report from the Boston Municipal Research Organization.
Even though business value increased by 3.5 percent during these three years, commercial abatement applications decreased by 34.6 percent. Residential values increased by 6.9 percent while residential abatement applications decreased by 40 percent during this time.
Commercial abatement filings dropped to 879 in fiscal year, the lowest number in the past 25 years.
The 1,470 residential applications filed in fiscal year 2013 are the lowest count of applications ever filed in a revaluation year by 658. Of the residential filings in fiscal year 2013, condominium owners represented the largest share at 52.3 percent, followed by singleâ€family owners at 23.7 percent and two- and threeâ€family owners at 17.8 percent.
