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Michael Lyons
  • Washington, DC
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Is Anyone Seeing This? "Multifamily owners in Boston hit hard"

Michael Lyons
  • Washington, DC
Posted Nov 25 2015, 07:07

Multifamily owners in Boston hit hard by new tax bills (Link to Boston Globe Article)

I have two main questions I am interested in.  1) Are other hotter markets seeing this type of increase?  2) Are any multifamily owners in smaller markets seeing tax increases that are larger than average? Are local municipalities trying to "get their share" in areas where appreciation has typically been lower than areas like Boston?  If so, have owners been successful in lowering tax increases on appeal?

My two cents is that it is somewhat ironic that the hardworking middle class voters who elected these government officials are indirectly being taxed because ultimately some of the added tax burden will be placed on their shoulders in the form of higher rents to cover higher tax bills.

Also, are there any investors out there that feel like these increased taxes will help break the current market cycle?  Is this the straw that breaks the camel's back, so to say?

Thanks!

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