Tuesday, December 04, 2007

'08 property taxes drop in Hub

The Boston Globe reports:
Residential property taxes in Boston are going down for the first time in five years, thanks to the city's red-hot commercial real estate market, declining home values, and a little legislative maneuvering by Mayor Thomas M. Menino.

The tax bill for the average single-family house is expected to decrease by $142 in 2008, to $2,949, a 4.6 percent decline, according to the city assessor's office. Owners of two-family houses can expect to pay $180 less on average, and three-family owners will owe an average of $152 less next year.

The decreases are in sharp contrast to annual property tax increases in recent years. Between 2002 and 2007, the bill for the average single-family house skyrocketed 78 percent, or $1,351.

"I think it's great news. We've got a lot of people who are just getting killed by taxes," said Dr. Francisco Trilla, medical director at Atreva Health Care in Jamaica Plain, which serves many elderly city residents and young families. "You've really got to look at the most vulnerable populations and those are the people who are really going to benefit from this."

The good fortune of Boston homeowners is not being played out across the state, however. The vast majority of cities and towns that have set their tax rates so far are imposing increases to keep local services functioning.

State Department of Revenue records show that property tax bills for single-family homes are increasing in 48 of 54 cities and towns for which 2008 tax rates are set. Those bills are going up an average of $193.