CommonWealth Beacon reports that under a compromise with city business organizations, the city will seek state approval to raise the tax levy from commercial properties higher than otherwise allowed for three years to help shield residential property owners from some of the shock of upcoming property re-assessments, expected to show a significant drop in commercial tax revenue due to continuing effects of fewer people returning to work downtown.
Under the proposal, the city would set aside $15 million a year for tax breaks for smaller...
Read more