BOSTON (WWLP) – A recent ranking found that Massachusetts is among the worst states on property tax competitiveness.
In Massachusetts, property taxes account for a big share of tax revenue, and a recent assessment shows just where we stand. The map was put out by the nonprofit Tax Foundation, a group that favors tax policies that create economic growth.
Massachusetts ranks in the top six worst states for property tax competitiveness, along with our neighbors Connecticut, Vermont, New York and New Hampshire.
The Massachusetts Fiscal Alliance, a group that favors tax reductions, is concerned with our high property taxes, as well as the proposed surtax on households over $1 million. They believe this could cause businesses to leave the state.
“This tax proposal being pushed by the legislator, if it passes it’s going to push a lot of people out of the state including businesses. Which means, the state is going to need to find a way to raise even more money for property taxes if these businesses leave,” said Paul Craney of the Massachusetts Fiscal Alliance.
The top ranked states for property tax competitiveness were Indiana, New Mexico, Idaho, Delaware, Nevada and Ohio.
Now supporters of the surtax proposal look to the added revenue it would bring to education and transportation.