The Moody’s analysis affirms the triple-A bond rating for the city, the top credit rating available. But Moody’s also warned the effects of remote work are starting to hit some office property types.
Taxes and Budget Issues
Posted inState Government
Senate readies for budget ‘dance’ with familiar clashes between chambers
While waving off the question of new tax streams for another time, Senate leadership is touting its proposed budget as first and foremost an “education budget” that takes a meaningful swing at the underlying barriers to full participation in the workforce and educational attainment.
Posted inGovernment
Boston’s taxing war of words
To head off a spike in residential taxes, the Wu administration wants to raise the tax rate on commercial property. But the city already taxes commercial owners at a much higher rate than residential taxpayers – the highest level allowed by law – so it needs approval from the Legislature to raise that rate further.
Posted inState Government
April tax collections surpass target by $1b
Collections of $6.324 billion last month exceeded the Healey administration’s monthly benchmark of $5.291 billion by $1.034 billion, or 19.5 percent. But officials said much of that overage came in the form of capital gains tax revenue and income surtax revenue, money that is to be set aside for specifically mandated purposes.
Posted inState Government
Political Notebook: Healey’s no-new-taxes talk | Rollins pay adjustment | Who is Jeanne Louise?
Asked by reporters afterwards about a timeframe for the no-taxes talk, Gov. Healey said, “That’s how I see it now and for the foreseeable future. Yeah, no taxes. I’ve been focused on trying to lower taxes.”
Posted inImmigration
Big 3 confer with congressional delegation on migrants
THE BIG 3 on Beacon Hill met via Zoom on Thursday morning with the state’s representatives in Congress, enlisting their help in seeking federal dollars and regulatory changes to help ease the shelter crisis in Massachusetts. Sounding more and more like officials from border states who complain about bearing the burden of immigration, the Massachusetts […]
Posted inOpinion
Tax relief makes Mass. more affordable
LAST WEEK, the Legislature passed the Commonwealth’s largest tax relief bill in a generation – and today Gov. Maura Healey will sign the bill into law. The culmination of more than a year of work by the Legislature, this law strikes the critically important balance of providing tangible, permanent financial relief for Massachusetts families, seniors, and […]
Posted inState Government, State House News Service
Healey greenlighting state tax breaks
STATE HOUSE NEWS SERVICE GOV. MAURA HEALEY’S office on Tuesday announced the governor will sign into law a wide-ranging tax relief package lawmakers sent her last week, punctuating more than a year and a half of deliberations that began under former Gov. Charlie Baker and became a centerpiece of Healey’s campaign. Healey plans to host […]
Posted inState Government
Tax relief bill alters refunds under tax cap law
THE TAX RELIEF BILL released by legislative leaders on Tuesday significantly changes a law approved by voters in 1986, requiring that excess tax collections be returned in equal amounts to all taxpayers rather than proportional to the taxes they paid. The so-called tax cap law has been triggered only twice, once in fiscal 1987 and […]
Posted inState Government
Legislative leaders roll out ‘generational’ tax package
LEGISLATIVE LEADERS unveiled a tax relief package on Tuesday that includes every provision of the House and Senate proposals but fits within the budget number for this year by paring back several of the elements. The tax package, which is expected to be approved by the House and Senate this week before going to Gov. […]