Skip to content
×
Pro Members Get Full Access
Succeed in real estate investing with proven toolkits that have helped thousands of aspiring and existing investors achieve financial freedom.
$0 TODAY
$32.50/month, billed annually after your 7-day trial.
Cancel anytime
Find the right properties and ace your analysis
Market Finder with key investor metrics for all US markets, plus a list of recommended markets.
Deal Finder with investor-focused filters and notifications for new properties
Unlimited access to 9+ rental analysis calculators and rent estimator tools
Off-market deal finding software from Invelo ($638 value)
Supercharge your network
Pro profile badge
Pro exclusive community forums and threads
Build your landlord command center
All-in-one property management software from RentRedi ($240 value)
Portfolio monitoring and accounting from Stessa
Lawyer-approved lease agreement packages for all 50-states ($4,950 value) *annual subscribers only
Shortcut the learning curve
Live Q&A sessions with experts
Webinar replay archive
50% off investing courses ($290 value)
Already a Pro Member? Sign in here
Welcome! Are you part of the community? Sign up now.
x

Posted about 2 months ago

Worcester is Losing Out On More Because of Commercial Tax Rates

Here is an article that appeared in the Worcester Chamber Exchange.

Once again, I've been hammering away at this issue for years on my BiggerPockets blog

Let's not belabor the point, but Worcester's commercial tax rate is directly shaping what gets built in the city.

Sure, you can spot all the shiny new residential developments in Worcester, but where are the hotels? Why does a city of 200,000 souls have a paltry 1132 hotel rooms? Compare that to Providence, with 5500 hotel rooms, 1700 of which are within walking distance of their arena.

This has a direct impact on the City not being eligible to host NCAA and major conference sporting events.

The data in this article is mind-boggling. A hotel property owner could pocket an extra $270k a year by building in one of the surrounding towns instead of Worcester. And don't get me started on grocery stores – building one in Worcester instead of Shrewsbury would cost the property owner an extra $220k annually.

City councilors, can we please get some action here? Let's bring back the lost development, events, and jobs to the heart of the Commonwealth.

Follow my blog and social media pages for more content like this.

WorcesterMulti's LinkedIn Page

WorcesterMulti's Facebook Page

WorcesterMulti's Instagram



Comments