Boston’s Tax Rate Set for FY18
Continued extraordinary new growth from new development is pumping up Boston’s annual property tax levy to support its growing operational expenses.
Category: Bureau Updates
Boston’s Cost for Compensated Absences
Boston’s total accumulated liability for compensated absences was $200.3M (as of 6/16) – 71% is for accumulated sick days. With a $142M sick leave liability, the City should evaluate the utility of the payment for unused sick days and seek to reduce future payouts in contract negotiations.
State Aid to Boston Not Keeping Pace
The Commonwealth is not keeping pace with revenue sharing to its largest city, especially state education aid, even though the City is an important driver of the state’s economy.
Boston Ends FY17 with a $6.7M Surplus
Boston ended FY17 with a $6.7M General Fund operating surplus due to conservative revenue estimates and ongoing control over spending for permanent employees. Not all revenue sources planned in the FY17 budget needed to be utilized.