Boston Globe: Cambridge is raising its commercial property tax rate by 22 percent. (That’s not a typo.)

Today’s Boston Globe article (read) highlights how our City Council has failed to act on budget realities.  The council voted unanimously on Monday for a 22% increase in commercial property taxes. This hike most affects the restaurants and small businesses in Cambridge, who are just recovering from the COVID shutdown. Customers will see price increases.

The council did not consider a significant tax increase for voters during the election, but you can expect a much higher residential tax burden in the coming years.  Renters and owners will shoulder higher housing costs.

The City Council had projections during the budgeting process that growing vacancy rates in labs and office space would cause a significant decline in tax revenue.  Yet, they did not address the city’s ballooning expenses.  We need to elect a new City Council that will prioritize expenses and instill a culture of controlling costs. Fiscal responsibility will moderate tax increases and give taxpayers the best bang for the buck for city services.