The Massachusetts House of Representatives has passed a bill that would shift the burden of property taxes in Boston from homeowners to businesses. The bill was approved with just one day left in the legislative session, sending it to the Senate for consideration.
Under the current system, homeowners in Boston pay a significantly higher share of property taxes compared to businesses. The proposed bill aims to address this imbalance by gradually shifting more of the tax burden onto commercial properties over the next five years.
Supporters of the bill argue that it will provide relief to homeowners who have been disproportionately impacted by rising property values and taxes. They believe that a more equitable distribution of the tax burden is necessary to ensure that all residents are able to afford to live in the city.
Opponents, however, have raised concerns about the potential impact on businesses, particularly small businesses that may struggle to absorb the increased tax costs. They warn that higher taxes on commercial properties could lead to higher prices for consumers and make Boston less competitive for businesses.
The bill is expected to face further debate and scrutiny in the Senate before a final decision is made. If passed, it could have far-reaching implications for both homeowners and businesses in Boston, reshaping the city’s tax landscape for years to come. Stay updated on the latest developments as the Senate considers the bill in the final moments of the legislative session.
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