* City and Police Detectives Now In Binding Arbitration Full Article>
* PILOT Revenues Increase In 4th Year Full Article>
* Net State Aid Continues to Decline for Boston Full Article>
* Time for BPS to reduce excess seating capacity to maximize use of limited resources as Charter seats expected to grow Full Article>
* MBTA Pacheco hold opens way for competition Full Article>
After nearly three months and an extensive series of hearings, on Wednesday June 23rd the City Council approved the $2.86 billion fiscal 2016 budget. Read More>
* Proposed Five-Year Capital Plan Totals $1.8 Billion Full Article>
Boston’s fiscal 2015 taxable value has surpassed $100 billion for the first time in Boston’s history. Business property, especially commercial property, cross-subsidizes low residential tax rates. New growth at $44.5 million represents 50% of the total tax levy increase, demonstrating the importance of development to continued revenue growth for Boston. Full Report>
Excise growth is increasingly important as Boston relies more on its own-source revenues. At $179.9M and 11% of total revenues, excise receipts represent a small but important source of recurring revenue for Boston. The growth in excise revenue helped mitigate a 9% decline in state aid, the City’s second largest revenue source. Full Report>