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>
Mayor Walsh released a comprehensive housing plan for Boston that projects changing needs by housing sector and recommends policy action through 2030. The plan outlines objectives to produce 53,000 new units of housing, a 20% increase. To meet the housing goals, an annual housing budget of $51 million is recommended, which would require an additional $20 million in new housing funds each year. Half that goal is estimated to come from the Community Preservation Act, but Boston voters would have to approve a 1% property tax surcharge. Read more>
Boston schools show a slight overall improvement in performance, but still an unacceptable number of underperforming schools remain.