State lawmakers advance Boston Mayor Wu’s business tax increase

State lawmakers have advanced Boston Mayor Wu’s controversial business tax increase.

Wu’s property tax home rule petition is now headed to the House Ways and Means Committee just days before the end of the legislature’s formal session on July 31.

The mayor is seeking a 200% tax burden shift to place what many are calling an unfair burden on commercial properties and their tenants. This comes as values are low and vacancies in Boston are at an all-time high.

In Boston’s Fiscal Year 2025 Budget, Wuy proposed an 8% increase that relies heavily on her proposal to shift the city’s tax burden. This increase is more than twice the increase in the State Budget.

At the recent State House hearing, Daniel Swift , a principal in the Boston office of the global tax consulting firm, Ryan, LLC, testified that the plan will cause irreparable harm to the city, harming businesses of all sizes and resulting in higher tax rates for commercial taxpayers and, ultimately, residential taxpayers, too.

Swift also stressed that the city of Boston has other options available to help residential taxpayers but has opted not to use them.

Mayor Wu’s business tax hike proposal is now in the hands of the House Ways and Means Committee

This is a developing story. Check back for updates as more information becomes available.

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