An end to the formal session on Beacon Hill left Boston Mayor Michelle Wu’s property tax plan in question.
“I can’t overemphasize how important this is for the city,” Wu told NBC10 Boston.
Empty office buildings are causing commercial property values to plummet and creating a revenue vacuum that without action, would fall on Boston homeowners.
“It’s to the balance and benefit of everyone who lives, works and plays in the city,” Wu said.
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“I’m hopeful we’ll still be able to get it done during our informal sessions,” said State Rep. Rob Consalvo.
The conversation around the plan has largely focused on high-rise office buildings that line Boston’s downtown and financial districts. Analysts and onlookers say the real impact of the policy would be felt in neighborhood business districts.
“The folks who end up having the biggest impact is the grassroots property owners here in the outlying neighborhoods,” said Greg Maynard of the Boston Policy Institute.
But Wu stands by her plan, hoping lawmakers will revisit the issue as part of a potential formal session centered on proposals that didn’t make it through the July 31 deadline.
“I think residents everywhere want to see action on the issues that are urgent and appreciate the additional time and effort to get something right,” said Mayor Wu.
“It’s just really clear that people need a lot more information and need to understand this better,” said Maynard.
