What to know about Mayor Wu's refiled property tax bill
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Photo Illustration: Brendan Lynch/Axios. Photo: Pat Greenhouse/The Boston Globe via Getty Images
Mayor Michelle Wu refiled her property tax bill Monday, this time with a backup plan, weeks after a Boston lawmaker killed the proposal in the Massachusetts Senate.
Why it matters: The proposal is not only Boston's last shot to mitigate homeowners' tax increases this fiscal year but it also is a test of Wu's political prowess as she faces re-election.
Catch up fast: Wu's claim that homeowners faced a 14% to 30% tax increase proved to be overblown.
- South Boston Sen. Nick Collins, a Wu critic backed by real estate companies, cited the inconsistent revenue projections as justification for repeatedly blocking votes on Wu's bill in December.
By the numbers: The average single-family home's tax rate increased 10.4%, or $575, more a year, per the city.
- Wu said in a press release that the overall increase is closer to 14.9%, or $833, more annually when including duplexes, condos and other residential properties.
Yes, but: Wu claims 55% of homeowners saw quarterly bills jump more than 18%, while only one-fifth of homeowners would have faced such an increase had her proposal become law.
Zoom in: Wu again proposed shifting the tax burden to commercial properties for the remainder of the fiscal year, slowly reducing that burden in the next two years.
- It kept provisions to offer $15 million annually in small business relief and boost personal property tax exemptions for smaller businesses to $30,000.
What's new: The latest proposal includes different eligibility criteria for more low-income seniors to qualify for a senior tax relief program.
Then there's Wu's backup plan: The city could issue some residential tax rebates from its rainy day fund.
- She didn't say how much, but the rebates would need to be set by the city and approved by the councilors.
What we're watching: Whether lawmakers approve Wu's do-over and let her stick to plan A, and what this go-around means for her re-0election campaign.