Author: bmrb

Boston’s Tax Rates Set for FY19

Substantial new growth drove Boston’s property tax levy increase of $133.4M or 6%, far greater than the Proposition 2½ levy limit of 2.5%. New growth, primarily from residential new development, contributed $78.7M, the largest new growth amount ever.

Boston’s Pension Liability Increased

Boston remains on track to fully fund its $1.51B unfunded pension liability by 2025. This has occurred despite assumption and plan changes that together actually increased the overall pension liability by $236.7M.