Opinion: Why Pay Property Taxes When You Can Get a Tax Break?

 Newsletter, November/December 2023, Open Space  Comments Off on Opinion: Why Pay Property Taxes When You Can Get a Tax Break?
Nov 012023
 
Opinion: Why Pay Property Taxes When You Can Get a Tax Break?

By Max Colice Over the past 10 years, the Belmont Country Club has received tax breaks totaling more than $4 million on its property tax bills thanks to a state law called Chapter 61B. Chapter 61B allows country clubs and other private nonprofit organizations to get a 75% discount on property taxes for recreational land, including golf courses. Belmont taxpayers pay for this enormous tax benefit. That’s because when one taxpayer’s bill goes down, everyone else’s bill goes up to offset that reduction. In other words, every taxpayer in Belmont has been subsidizing the Belmont Country Club’s property taxes for [READ MORE]

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Opinion: Belmont Needs Business-Friendly Zoning

 Construction and Housing, Newsletter, November/December 2023, Parking  Comments Off on Opinion: Belmont Needs Business-Friendly Zoning
Nov 012023
 
Opinion: Belmont Needs Business-Friendly Zoning

By Taylor Yates and Paul Joy Belmont has zoned itself into a financial corner. Fiscally healthy towns balance their tax bases between commercial and residential real estate, Belmont does not. Belmont receives only 5% of its property tax revenue from commercial real estate, whereas fiscally strong towns receive 20% or more. We receive so little revenue from commercial real estate because the few areas in town where it is allowed suffer from overly burdensome regulation. The Economic Development Committee and Vision 21 Implementation Committee were charged by the Select Board to review Belmont’s zoning bylaws and to look for ways [READ MORE]

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Reflections on “Belmont’s Fiscal Cliff”

 Newsletter, Sept/Oct 2022  Comments Off on Reflections on “Belmont’s Fiscal Cliff”
Sep 092022
 

By Vincent Stanton, Jr. Although “Belmont’s Looming Fiscal Cliff” makes several important points about Belmont’s tax base, some of the details should be clarified for BCF readers.  Lexington and Watertown have both recently raised taxes, largely driven by the construction of new schools. Lexington’s most recent tax increase was in June 2022, when voters approved a debt exclusion to fund a $35.2 million new police station. The average tax bill is expected to increase by $258/year in the first year. Previously, in December 2017, Lexington voters approved debt exclusions for two new schools and a new fire station with an [READ MORE]

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Why We are Running a Pro-Development Piece

 Newsletter, Sept/Oct 2022  Comments Off on Why We are Running a Pro-Development Piece
Sep 092022
 

By Vincent Stanton, Jr. Long-time readers of the Newsletter may be surprised to see an article proposing more intensive development in Belmont. The Belmont Citizens Forum was created in 2000 by a group of residents who opposed the scale of development proposed by McLean Hospital on its Belmont Hill campus—initially over 1,000,000 square feet. Much of that development has not transpired, as commercial property developers have not found the McLean location attractive. The McLean development proposed in the late 1990s came with the promise of substantial new revenue. Specifically, in 1999 the town’s financial impact consultant estimated that the McLean [READ MORE]

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Belmont is Sitting on a Fiscal Cliff

 Construction and Housing, Newsletter, Open Space, Sept/Oct 2022, Town Committee Meetings  Comments Off on Belmont is Sitting on a Fiscal Cliff
Sep 092022
 
Belmont is Sitting on a Fiscal Cliff

By Max Colice, Elizabeth Dionne, and Dan Barry Belmont is effectively insolvent. It cannot pay its operating expenses and pension debt without one-time federal aid. Compounding this problem, Belmont’s operating expenses are rising faster than its revenue. Unless Belmont increases its revenue, the town may have to cut services drastically.  Like every other town in Massachusetts, Belmont’s revenue comes mainly from property taxes. The Board of Assessors assesses each property’s value, then computes the property tax by multiplying the property value by the property tax rate. Even though Belmont’s property tax rate is relatively low, its single-family property tax bill [READ MORE]

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