The Worst of Boston’s Tax Problems May Be Yet to Come
The good news is that Boston’s 2025 tax revenue crisis may not be as bad as some have feared. The bad news is office values may have further to fall.
New Boston Property Tax Outlook Shows Smaller Resi Jump
Updated assessment data from Boston City Hall shows a smaller projected increase in residential property taxes in 2025, but Mayor Michelle Wu is still lobbying for legislation shifting a larger portion of the tax levy onto commercial properties.
Muted Reaction to Wu’s $100M Housing Fund, Return of Top Planner
Developers and real estate executives weren’t tapping furiously at their keyboards and burning up my phone line in praise of the mayor’s announcement of a $100 million “Housing Acceleration Fund.”
Wu Pledges $100M ‘Housing Accelerator’ Fund
The city of Boston is exploring how to create a $100 million fund to invest in permitted housing projects, Mayor Michelle Wu told the city’s business elite Wednesday morning.
NAIOP Pushes for Delay in New Boston Affordability Rules
Pointing to the doldrums in which housing development has been stuck, industry group NAIOP Massachusetts asked the Wu administration to delay next week’s implementation of higher affordability requirements.
City Hall: Zoning Chair Was Holdover Replaced, Not Sacked
The Boston Zoning Commission Chair was removed by Mayor Michelle Wu just a month after the board failed to approve new regulations discouraging the use of fossil fuel building systems in new developments.
Wu Still Hopeful for Tax Plan
Boston Mayor Wu is holding out hope that she can get Senate President Karen Spilka to come around to her proposal to temporarily increase the tax rate for Boston’s commercial property owners.
Spilka, Wu Talk Tax Bill, But ‘Serious Concerns’ Remain
In a fresh statement this week, Spilka’s spokesperson said, “Mayor Wu and the Senate President spoke last week about the proposal. The Senate President and the Senate are committed to creating good and smart policy, and to that end, remain open to continuing conversations with the City of Boston and other stakeholders.”
Setting an Agenda for Unfinished Business
As Boston’s economy adapts to the post-pandemic working and living environment, Jim Rooney has been an outspoken critic of threats to the region’s economic competitiveness, from problems with the T to office vacancies.
Mayor Ready to Dial Each Senator in Property Tax Push
Senators be aware: If you get a call from a 617 phone number in the coming days, it could be Boston Mayor Michelle Wu.
Spilka Pans Wu Tax Bill After Mayor’s Comments
Senate President Karen Spilka reacted sharply after Boston Mayor Michelle Wu suggested Boston homeowners would have the Senate to blame if state lawmakers don’t pass her proposal to temporarily hike the city’s commercial property tax rate.
Wu: Tax Shift ‘Most Likely’ Getting Hearing Next Week
After meeting with Boston’s delegation of state legislators Monday, Mayor Michelle Wu said she’s holding out hope that her plan to shift the city’s property tax burden to avoid a residential tax hike could pass through the State House before a quickly approaching deadline.
Separation of Planning Powers Begins in Boston
Today’s start of the new fiscal year brings a planning department formally under city control to Boston City Hall for the first time in 70 years.
Council Still Not Ready to Move on Wu’s Tax Shift Proposal
With the window for the necessary state legislative action quickly closing, Boston city councilors still have many questions about a proposed tax-shift plan that has drawn the ire of some influential real estate industry leaders.
Biz Leaders: Wu’s Tax Plan Makes Suburbs Winners
Business leaders warned Wednesday morning that increases to Boston’s commercial property tax rate would further diminish downtown as an economic center and drive businesses to Cambridge and suburban communities.
Report Predicts $2.6B Drop in CRE Values from Tax Shift
A temporary shift in Boston’s tax structure would hike commercial properties’ tax bills by 17 percent in fiscal 2025 while reducing their cumulative value by $2.6 billion, according to an analysis of future real estate conditions.
Boston Plans Big Renovation of Development Reviews
Boston Mayor Michelle Wu’s administration is trying to cut through the murky process that forces real estate projects to shell out millions in unpredictable community benefits payments.
Housing Slump Deserves a Deeper Look
With all due respect a bunch of academics, however distinguished, need to hear from developers in the trenches to get to the bottom of why Boston’s suffering a plunge in housing starts.
BPDA Hits Winthrop Center Over Public Access Promises
The Boston Planning & Development Agency ordered developer MP Boston to open the centerpiece public amenity of its $1.3 billion Winthrop Center skyscraper on weekends to comply with an agreement with the city.
In Speech, Wu Defends Downtown Strategies, Tax Rate Plan
Speaking to the Boston Municipal Research Bureau’s annual meeting Thursday, Boston Mayor Michelle Wu said her plans to increase troubled office towers’ share of the city’s tax burden were vital to “avoid making our housing crisis worse.”
