"There is no limit on changes in the tax rates"

It is tax rate season. Franklin's property tax rate was set last week and Boston's tax rate was set this week. There was a good write up on Boston's tax rate situation especially given the mishandling in the Boston Globe story. I thought this paragraph was succinct:

Proposition 2 1/2 limits the overall annual levy increase in a community to 2.5 percent plus taxes on any new development. There is no limit on changes in the tax rates, which are simply adjusted up or down, depending on what has happened with assessed values, in order to arrive at the total levy target from residential and commercial properties that city budget writers have drawn-up.

You can read the full article by Michael Jonas in Commonwealth Unbound here