Word: taxed
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Dates: during 1980-1989
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...city tax revaluation for fiscal year 1990, which began this summer, found that the value of taxable property increased by 16 percent over last year, jumping from $7.3 million to $8.5 million...
...Although tax officials and members of the City Council said Cambridge will not have a problem raising revenue this year, they added that they are worried about the city's financial health for the 1990s...
Because of Proposition 2-1/2, only 35 percent of $109.5 million in taxes to be levied this year will come from personal property, while commerce and industry will bear 65 percent of the tax burden, said Kevin T. McDevitt, one of the city's two principal assessors. He added that residential property will make up the lowest percentage of the tax base in recent history...
...slowdown of the local economy means that the city can no longer depend upon continued increased in state aid and increased tax levy limits due to new construction, two factors that contributed greatly to the financial strength of the 1980's," City Manager Robert W. Healy wrote in a report delivered to council last week...
Healy added that the city might face "difficult choices in the coming years" if last year's trend of reduced state aid and shifting tax burden--among other things--continue...