Analyzing Mayor Wu’s Property Tax Classification Proposal

Mayor Michelle Wu’s proposed Home Rule Petition to temporarily change property tax classification in Boston aims to tackle the consequences of a possible divergence of property values between residential and business properties. What does this proposal entail and why the urgency for change now? Will it alleviate a potential new burden on residential taxpayers, or does it impose new challenges on businesses, or perhaps both? What lessons can we draw from Boston’s past experience with a similar measure?

In addition to answering these questions, the Research Bureau suggests other steps the City should consider taking, which alone or in combination may be effective in ameliorating the potential increase in residential property taxes.

Report Objectives

This report provides information and insights on:

• What is classification?
• A look into Boston’s fiscal status.
• A dive into what businesses pay in Boston.
• In an uncertain economy, how to keep Boston financially healthy.
• Alternatives to consider.

Read the full Special Report here >>>