According to the Boston Globe, we live in a One Hundred BILLION Dollar City ~ 110 Billion, to be exact.
Boston for the first time in history has an assessed real estate value of over $110 Billion Dollars according to city assessment records. And with millions of square feet under construction, the potential of being an Olympic host city, the boom of the Seaport District and completion of the Big Dig, it seems it will not be slowing anytime soon.
For many investors, and for those thinking about selling this is great news but for some this news is not all good. With the increased value of real estate (nearly 10% in the past year), and the largest increase since 2007, will come hefty tax increases. Fortunately, state laws prevent increases more than 2.5% in a one year period.
To read more about what this all means to our beloved Boston, check out the Globe’s article at the link below.
If you’re looking to find out the value of your property, you can reach one of experts at 617-901-7600.