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Boston's Morning Newsletter
Wu warns of potential 33% property tax hikes for homeowners if Beacon Hill doesn't act
Editor's Note: This is an excerpt from WBUR's daily morning newsletter, WBUR Today. If you like what you read and want it in your inbox, sign up here.
It’s not quite another heat wave, but the temps will reach up to 90 today and tomorrow. Before you head to the Common for free food and a splash in the reopened spray pool, let’s wade into the news:
A proper(ty) predicament: Boston Mayor Michelle Wu’s plan to temporarily tweak the city’s residential-to-commercial property tax ratio is still waiting on action from Beacon Hill. So, what happens if it dies on the vine, as the legislative clock winds down this summer? During her monthly Radio Boston appearance yesterday, Wu shared some new draft projections on what the action — or inaction — would mean for Boston’s homeowners and businesses.
- Catch up: Wu’s proposal — modeled after a similar move 20 years ago by the late Thomas Menino — would effectively allow Boston to raise property tax rates for businesses for three years. The reason, ironically, is because of a projected decline in office values caused by remote work and high interest rates. Due to state restrictions on the difference between cities’ residential and commercial property tax rates, Wu’s office says that decline could lead to “crushing” property tax increases for homeowners.
- Option A: If nothing changes, Wu said yesterday homeowners could see a 33% spike in their property tax bill, according to her office’s projections. Meanwhile, older and relatively less expensive Class B and Class C office buildings would see a 13% drop.
- Option B: If state lawmakers do approve her plan, Wu says homeowners would still see a 9% increase in property taxes, while Class B and Class C commercial properties would get a lesser 8% decrease in their bill. (Wu did not address newer Class A office towers, which would “likely see an increase in taxes” under her plan, according to the Boston Municipal Research Bureau; her office declined to share the full projections yesterday.)
- Option C: Could the city just slow its spending and raise property taxes by less than what’s allowed under Prop 2½? Several business-friendly groups have called for this approach. However, Wu said it would be unprecedented. “We always take the full 2.5% increase, because that is what we are allowed to do and inflation is often much higher than that,” she said. “And if we were to not take it, we lose that for all time, and that actually undermines the city’s ability to spend and serve residents in the future.”
Coming in 2025: The city of Lynn is turning a former landfill into a waterfront park. Officials will hold a groundbreaking ceremony today for the planned 22-acre Lynn Harbor Park, located behind the Lynnway Walmart. Mayor Jared Nicholson told WBUR’s Dan Guzman the city is aiming to open the first phase next spring.
- When completed, the park will include walking trails, basketball courts, an amphitheater and more than 500 trees. The area around the park is also slated to get 4,000 new units of housing. “What this park does is assures that there will be open space for our residents amidst all this development,” Nicholson said.
- What’s next: Phase one will include the basics, like the park’s trails, parking and maybe a gazebo. Future phases will include shoreline restoration and things that require electrical work, like the courts and amphitheater.
The NHL’s top goaltending tandem is breaking up. Hours before last night’s dramatic finish to the Stanley Cup, the already-eliminated Boston Bruins traded goalie Linus Ullmark to the Ottawa Senators for two players and a first-round pick in the 2024 NHL Draft later this week.
- The big picture: While the Swedish goalie won 2023’s Vezina Trophy as the NHL’s top goaltender, he split time this season and was eventually superseded during the playoffs by fellow goalie Jeremy Swayman. Bruins management has said signing Swayman to a contract extension this off season is their priority.
Heads up: Stuart Street in downtown Boston is closed in both directions between Washington and Tremont streets this morning, due to a four-alarm fire that broke out last night at the former Jacob Wirth building. Boston Police say the closure is expected to impact the morning commute and access to Tufts Hospital.
P.S.— If you’ve been meaning to sample the Cambridge restaurant scene this summer, tonight’s your chance. Taste of Cambridge returns for the first time since the pandemic today from 5:30 p.m. to 8 p.m. at University Park near MIT, featuring food, drinks and (importantly) ice cream from several dozen eateries, from Tallula to Naco Taco. Check out the full list of vendors and buy tickets here.
