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...Property taxes are going up. Massachusetts already has the highest property taxes of any state, and the State Supreme Court's 1974 decision in the Sudbury case will make them even higher. The Sudbury decision enforced a state constitutional provision that requires assessment of all proerty at 100 per cent of its market value, instead of the long-time practice of assessing residential property at, say, 50 per cent, and business property, income-producing property, at 75 per cent...
...budget deficit, boasts a personality and political presence tolerated only by party insiders and religious martyrs, both of whom are used to suffering. Meanwhile, Duryea, one of the legislature's most deceptively conservative spokesmen, looks like a good bet: he leads most recent polls by about 2 per cent overall, but by 6 per cent among those likely to vote. Barring an unusually heavy turnout, Hugh Carey will be packing by the middle of this week...
...passed, Question 1 would allow the legislature to reinstitute variable assessments in four classes: residential, commercial, industrial and open space. The Massachusetts Mayors' Association proposes that residential property be assessed at 40 per cent of market value, commercial property at 50 per cent, industrial at 55 per cent, and open space at 25 per cent, with all residential parcels getting a $5000 exemption...
Very simply, if Question 1 fails to pass, if 100 per cent valuation goes into effect, there would be a mammoth shift of the property tax burden from business to homeowners, on the order of $265 million. The shift would be felt hardest by the homeowners in older cities where there are great numbers of both lower-income housing and industrial properties. In Cambridge, for instance, the shift would amount to $8.6 million--and the average tax bill on a single-family home would jump from the present $1931 to over $3000. In Boston, the bill would increase from...
Donald Woods said yesterday, "I am deeply grateful to President Bok for bringing me here. I think Harvard should divest every cent of its investments involving South Africa...