Boston homeowners should brace for a 13% property tax jump on single-family homes as Mayor Wu contends with sliding commercial real estate values.
Why it matters: It’s the second year in a row that Bostonians face a double-digit residential tax increase, as commercial property values dropped 6% and residential values rose 2%.
- That means the tax burden shifts from businesses to homeowners.
By the numbers: Average single-family homes will see a $780 annual increase, according to Wu.
- The city is still determining how much multifamily home taxes will rise.
- Commercial properties will see a 4.4% decrease, saving typical office buildings $210,000.
State of play: Wu’s compromise tax reform bill — her answer to the household crunch — remains blocked in the state Senate after passing City Council and the House three times since last year…