On Monday, Boston Mayor Michelle Wu proposed new legislation aimed at limiting residential property tax increases and preventing budget shortfalls. The bill would raise the cap on commercial property tax increases for a period of three years. This comes after a previous attempt to temporarily increase taxes on commercial landlords failed in the Massachusetts Senate last month.
According to Wu’s office, residents who received their third-quarter property tax bills for Fiscal Year 2025 saw the largest increase in their share of the levy since 2007, while commercial taxpayers experienced a significant decrease. In response, Wu stated that it is crucial for legislators and all involved parties to consider the serious impact this has on Boston residents and work together towards finding balanced relief.
The proposal will now be presented to the Boston City Council for approval before being brought to legislative consideration at the State House.
