Property tax rate expected to dip
Boston residential property owners appear to be in line for some good news amidst all the economic gloom and doom.
Tax rates for Boston homeowners are expected to drop for the second straight year, despite the current economic crisis and an estimated $80 million shortfall in the city’s budget for the fiscal year beginning July 1.
City finance officials said they expect the residential rate will drop by as much as 2.7 percent below the current rate of $10.97 per $1,000 of value. That would mean the bill for a single-family home valued at $350,000 would decrease from $3,840 in 2008 to $3,735.
