Mayor Michelle Wu Refiles Residential Tax Relief Legislation

Mayor Michelle Wu has refiled a comprehensive residential tax relief package aimed at easing the financial burden on Boston residents who are grappling with significant property tax increases for Fiscal Year 2025. The updated proposal addresses the sharp rise in tax bills, which have increased by an average of 10. 4% for single-family homes, and up to 14. 9% for broader residential property types. In a collaborative effort with business leaders, the legislation seeks to implement immediate relief measures, including residential tax rebates and expanded exemptions for low-income seniors and small businesses.

Wu highlighted the pressing nature of this issue, urging legislators to act swiftly to support the relief efforts. The refiled home rule petition is designed to ensure future tax stability and assist those most affected by the rising costs. With over 55% of residential property owners facing tax increases greater than 9%, the need for action is critical. The proposal will be reviewed by the Boston City Council before moving to the State House for legislative approval. This initiative is part of Wu’s broader affordability agenda, which aims to enhance the economic well-being of all Boston residents.