Evan Horowitz said Healey presents her tax policy to resonate with progressive groups that care about tax cuts for vulnerable people and also to reassure business leaders...
U.S. Rep. Jake Auchincloss, along with Evan Horowitz of the Center for State Policy Analysis at Tufts University, share their ideas on how Massachusetts can fund transportation projects
Boston could be facing a shortfall of more than a billion dollars over the next five years from lagging tax revenues, according to a new report from the Boston Policy Institute.
Market values for office buildings are falling. That could cost the city over $1 billion in tax revenue over the next five years, according to a new analysis by Tufts University’s Center for State Policy Analysis
Over the next five years, that city could face a tax revenue shortfall to the tune of $1.2 to $1.5 billion, according to a new study from the Boston Policy Institute.
“Offices are not as desirable as they used to be,” Horowitz said. “Boston’s got a lot of offices. If those offices are less desirable, then they are worth less and you can’t charge as much in taxes.
“More than one-third of Boston tax revenue comes from commercial property taxes, by far the highest proportion among major U.S. cities,” the report states. “This leaves Boston especially vulnerable to falling real estate values.”
“A tax falloff representing 10 percent of Boston’s total spending is too large to be offset by creative accounting or other kinds of financial management,” the report said. “The city will need to raise new revenue or reduce its medium-term spending plans.