New Growth Falls to Lowest Share in More Than a Decade

Continued Decline in Commercial Values Fuels Rise in Residential Taxes

With tax bills issued earlier this month for the second half of fiscal year 2026, Boston property owners now have a clear picture of the taxes they owe, with tax rates rising for both residential and business properties. This report analyzes Boston’s tax rates, assessed values, and new growth and their implications for the City’s property tax levy, which accounted for 71.7% of operating revenue in FY26.

Boston’s assessed property value grew in FY26 for the fifteenth straight year, rising slightly due to increasing residential values. Notably, FY26 is the second consecutive year that business values fell, tempering the effect of some of the residential value growth. At the same time, residential and business new growth slowed from FY25. The declines in business values and new growth raise concerns for FY27 and beyond, given the significance of business property taxes in funding Boston’s budget.

To learn more about new growth, tax rates and assessed values in FY26, read the full report here: