Boston’s Tax Revenue Plummets as Remote Work Reshapes its Real Estate Market
Allwork
FEBRUARY 19, 2024
According to the report, “With the value of office space expected to decline 20–30 percent by 2029, and overall commercial real estate prices by 12–18 percent, we estimate that Boston will face a cumulative revenue shortfall of $1.2 billion to $1.5 The impact on value could be even greater if rising interest rates compound it.
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