Walsh proposes lower Boston property taxes
Boston homeowners are likely to see their property tax bills shrink by the end of the year under a proposal that would expand the city’s residential exemption for the first time in 17 years.
The measure is part of a push to ease the financial burden on the city’s middle-class families, who are strained by stagnated wages and the increasing cost of living, said David Sweeney, the city’s chief financial officer.
The mayor’s office cited the strong local economy, including rising property values, as the reason the city has a financial cushion to cut property taxes.
The proposal is twofold: It would reduce the property tax bill for single-family, owner-occupied homes by an average of $299 — from $3,533 to $3,234. It would also increase the residential exemption to 35 percent for taxpayers who make their homes their principal residence.
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