Boston Homeowners’ $1B Tax Bill

Letter to Ephesians: An ex-Chicagoan & one-time downstate community development lawyer, I am still amazed at how some big city leaders can’t lead or see the forest from the trees. Case in point: A $1 billion real estate tax is looming over Boston homeowners as office-building values tanked. Why?

You’d think the woke & condescending Sanctuary City fathers in their wisdom would have seen this tax Armageddon coming so’s to at least warn their progressive residents. As it happens, the WSJ coverage notes, Boston isn’t entirely alone. Other big cities, we’re told, are also issuing their first real estate reassessments since the Covid pandemic panic that ravaged commercial values since. But, Boston’s new commercial valuations are so putrid (often declining 50% or more since 2019), the city had to greatly boost their residential tax rates to make up the difference.

How much is the hit to Bostonians? Says the WSJ as an example: “Durrett, 76-year-old, said her annual bill will be more than DOUBLE [ed] to close to $1,600 from about $720. That is going to force the retiree to shelve plans for home repairs, replacing her 15-year-old car and buying new clothes this spring.” Notes, the paper, “Boston, like other cities, could adjust by cutting budgets for public schools, police & fire or other public services. But the city doesn’t want to take those steps.” Yo, WSJ: Boston could also slash their highly touted “investment” in Green New Deal initiatives ($2B) that won’t yield any climate miracles; various subsidizations of illegal aliens (the cost alone of locking up those committing crimes is now over $27M); & aid to its growing homeless population (about $280M) ...

Davd Soul