Photo: Jared Brosnan/WBZ NewsRadio
BOSTON (WBZ NewsRadio) — As controversy continues to mount for Mayor Michelle Wu's corporate property tax plan, Boston City Councilors were looking for ways to provide some tax relief for Boston homeowners.
At a Thursday hearing, Greg Maynard with the Boston Policy Institute said the city needs to be thinking creatively to help figure out a way to solve its money problems. "There is every reason to believe that commercial property values will continue to decline in the years to come," he said. "That decline creates a perfect storm for Boston."
The mayor's plan calls for a temporary increase to the city's corporate property tax rate.
Councilor Julia Mejia said they need to consider alternatives to the mayor's plan. "One that does not begin and end with impacting our small businesses."
Councilor Ed Flynn was among the councilors arguing there has to be some belt-tightening.
Meanwhile, there is concern that the mayor's proposal may not get the approval it needs on Beacon Hill.
WBZ News Radio's Madison Rogers (@MadisonRogersWBZ) reports.
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