Showing posts with label Tax revenue. Show all posts
Showing posts with label Tax revenue. Show all posts

Sunday, December 4, 2022

This Town Council "Quarterbacking" session condenses the 11/30/22 meeting to about 28 minutes (audio)

FM #891 = This is the Franklin Matters radio show, number 891 in the series. 


This shares my conversation with Town Council Chair Tom Mercer. This is one of a series of conversations meant to provide a recap of the prior Council meeting. Akin to one of the many sports post-game analysis broadcasts we are familiar with in New England,  this would be a discussion focused on the Franklin Town Council meeting of Nov 30, 2022


  • ok, what just happened? 

  • What does it mean for Franklin residents and taxpayers?


We cover the following key topics

8. PRESENTATIONS / DISCUSSION

a. Presentation: Elks Riders Donation to Veterans’ Services Department


6. HEARINGS - 7:00 pm

a. Franklin Tax Classification Hearing

b. Resolution 22-77: Tax Classification Residential Factor

c. Resolution 22-78: Tax Classification Open Space Exemption

d. Resolution 22-79: Tax Classification Small Business Exemption

e. Resolution 22-80: Tax Classification Residential Property Exemption

f. Resolution 22-81: Tax Classification Senior Means Tested Exemption


g. Resolution 22-82: Declaration of Town-owned Property Containing “South Franklin Congregational Meeting House” Located at 762 Washington Street as Surplus and Authorization for Disposition (Sale) to Old Colony Habitat for Humanity


h. Resolution 22-83: Downtown Parking Lot Kiosks Authorization  


i. Resolution 22-84: 2023 Town Council Meeting Schedule


k. Resolution 22-85: Public Property Naming & Memorial Installation Policy


Our conversation runs about 28 minutes:


Links to the meeting agenda and associated documents released for this meeting are included in the show notes. 


Let’s listen to this session of Town Council Quarterbacking recorded Dec 1, 2022


Audio file -> 
https://franklin-ma-matters.captivate.fm/episode/fm-891-town-council-quarterbacking-12-01-22

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Meeting agenda and documents released for this session ->

https://www.franklinma.gov/sites/g/files/vyhlif6896/f/agendas/nov_30_town_council_agenda.pdf


Watch the Franklin.TV video replay on YouTube -> https://youtu.be/FXWkMcix63s


My notes in one threaded PDF document

https://drive.google.com/file/d/1uTxaQe3MXLug8od6xq5C_bqLzbDLoEjY/view?usp=share_link 


My 4 key tax rate charts as discussed in this session

https://www.franklinmatters.org/2022/11/good-news-tax-rate-is-going-down.html



--------------


We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm) or 102.9 on the Franklin area radio dial.  


This podcast is my public service effort for Franklin but we can't do it alone. We can always use your help.


How can you help?

  • If you can use the information that you find here, please tell your friends and neighbors

  • If you don't like something here, please let me know


Through this feedback loop we can continue to make improvements. I thank you for listening.


For additional information, please visit Franklinmatters.org/ or www.franklin.news/


If you have questions or comments you can reach me directly at shersteve @ gmail dot com


The music for the intro and exit was provided by Michael Clark and the group "East of Shirley". The piece is titled "Ernesto, manana"  c. Michael Clark & Tintype Tunes, 2008 and used with their permission.


I hope you enjoy!

------------------


You can also subscribe and listen to Franklin Matters audio on your favorite podcast app; search in "podcasts" for "Franklin Matters"


South Franklin Congregational Meeting House
South Franklin Congregational Meeting House

Tuesday, November 29, 2022

Good news, the tax rate is going down; however, that doesn't mean our taxes are decreasing

The Town Council gets to formally approve the tax rate for Fiscal Year 2023 at the Council meeting on Wednesday, Nov 30, 2022. This annual event formally closes the cycle on the Fiscal Year calendar as it approves the tax rate for the budget approved in June and adjusted in October. 

The tax rate hearing portion of the agenda doc can be found here ->

The numbers in this doc allowed me to update (adding FY 2023 #s) to my spreadsheet to produce these charts.

As this chart shows, the tax rate does fluctuate from year to year. We have been as low as 8.86% in 2007, and as high as 14.84% in 2015.

the tax rate does fluctuate from year to year
the tax rate does fluctuate from year to year


The tax rate is going down from 14.05 to 12.58%. This is due to the increase in overall residential and commercial property valuations increasing. We have all seen what the housing market is doing. This chart shows the relationship between the total assessed valuations and the property tax rates. When the market drops in 1988 and 2008, the rates rise. As the market increases, as in the most recent 2 years, the rate declines.

the relationship between the total assessed valuations and the property tax rates
the relationship between the total assessed valuations and the property tax rates

We do have a single tax rate and that is one question the Council will need to confirm. It is likely they will continue with a single rate. A dual rate doesn't raise any more money than the single, it only takes more from one party than the other. In this case, if we did have a split rate, taking a single dollar from the Residential rate would raise the Commercial/Industrial rate by $4 to raise the same revenue. What do you think might happen as businesses reacted to a $4 tax rate increase? 

We do need to grow our overall revenue base and more commercial/industrial growth would be better than more residential growth. We have shifted slightly through the years, but generally in and around an 80-20 split. Follow the bar, or the line. The bar and the line add up to 100%.

commercial/industrial valuation split vs. residential
commercial/industrial valuation split vs. residential

So bottom line, while we do need more commercial/industrial growth, whether the tax rate goes up or down (as it does this year), the one other constant in the mix is that the tax bills do increase. This last chart shows that relationship.

whether the tax rate goes up or down the tax bills do increase
whether the tax rate goes up or down the tax bills do increase

A PDF version of the four charts can be found here

Sunday, November 27, 2022

Franklin, MA: Town Council - Agenda for Nov 30, 2022 - 7 PM

FRANKLIN TOWN COUNCIL
Agenda & Meeting Packet
November 30, 2022 - 7:00 PM

1. ANNOUNCEMENTS FROM THE CHAIR
a. This meeting is being recorded by Franklin TV and shown on Comcast channel 11 and Verizon Channel 29. This meeting may be recorded by others.
b. Chair to identify members participating remotely.
2. CITIZEN COMMENTS
a. Citizens are welcome to express their views for up to three minutes on a matter that is not on the agenda. The Council will not engage in a dialogue or comment on a matter raised during Citizen Comments. The Town Council will give remarks appropriate consideration and may ask the Town Administrator to review the matter.
3. APPROVAL OF MINUTES - None Scheduled.
4. PROCLAMATIONS / RECOGNITIONS - None Scheduled.
5. APPOINTMENTS - None Scheduled.

6. HEARINGS - 7:00 pm
i. Legislation for Action Items: 9b, 9c, 9d, 9e, 9f
7. LICENSE TRANSACTIONS - None Scheduled.

8. PRESENTATIONS / DISCUSSION
a. Presentation: Elks Riders Donation to Veterans’ Services Department

9. LEGISLATION FOR ACTION
a. Resolution 22-76: Gift Acceptance - Elks Riders Donation to Veterans’ Services Department
b. Resolution 22-77: Tax Classification Residential Factor
c. Resolution 22-78: Tax Classification Open Space Exemption
d. Resolution 22-79: Tax Classification Small Business Exemption
e. Resolution 22-80: Tax Classification Residential Property Exemption
f. Resolution 22-81: Tax Classification Senior Means Tested Exemption
g. Resolution 22-82: Declaration of Town-owned Property Containing “South Franklin
Congregational Meeting House” Located at 762 Washington Street as Surplus and Authorization for Disposition (Sale) to Old Colony Habitat for Humanity
h. Resolution 22-83: Downtown Parking Lot Kiosks Authorization  
i. Resolution 22-84: 2023 Town Council Meeting Schedule
j. Zoning Bylaw Amendment 22-887: Zoning Map Changes on or Near Lincoln Street and
Lincolnwood Drive (Motion to Refer Zoning Bylaw 22-887 to the Planning Board - Majority Vote)  https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/9j._22-887_bylaw_amendment_zoning_changes_0.pdf
k. Resolution 22-85: Public Property Naming & Memorial Installation Policy

10. TOWN ADMINISTRATOR’S REPORT

11. SUBCOMMITTEE & AD HOC COMMITTEE REPORTS
a. Capital Budget Subcommittee
b. Economic Development Subcommittee
c. Budget Subcommittee
d. GATRA Advisory Board

12. FUTURE AGENDA ITEMS

13. COUNCIL COMMENTS

14. EXECUTIVE SESSION - None Scheduled.

15. ADJOURN

Note:
Two-Thirds Vote: requires 6 votes
Majority Vote: requires majority of members present and voting

Meeting agenda and documents released for this session ->

South Franklin Congregational Meeting House
South Franklin Congregational Meeting House

Sunday, October 30, 2022

Boston Globe: "Billions in state tax refunds to start flowing to taxpayers on Tuesday, officials say"

"THE FIRST CHECKS and direct deposits from a nearly $3 billion pot of excess tax revenue will head back to taxpayers starting on Tuesday when the calendar flips to November, the Baker administration announced Friday.

A spokesperson for the Executive Office of Administration and Finance said money will head out the door under the voter-approved tax cap law known as Chapter 62F, which taxpayers triggered for the first time since 1987 by delivering massive amounts of taxes.

About 3 million taxpayers will receive a refund in the form of a mailed check or a direct deposit worth about 14 percent of what they owed in state personal income tax in 2021, the spokesperson said. The administration plans to distribute the refunds on a rolling basis through December 15. The administration had previously estimated refunds of about 13 percent of income tax liabilities."

Continue reading the article online -> 

Boston Globe coverage ->  (subscription maybe required)
 
Eligible taxpayers will receive their refunds on a rolling basis, Governor Charlie Baker’s office said. LUKE SHARRETT/BLOOMBERG
Eligible taxpayers will receive their refunds on a rolling basis, Governor Charlie Baker’s office said. LUKE SHARRETT/BLOOMBERG

Saturday, October 29, 2022

Finance Committee hears of the assessment process which accounts for about 60% of the Town of Franklin revenue (audio)

FM #867 = This is the Franklin Matters radio show, number 867 in the series. 


This session of the radio show shares the Finance Committee meeting held on Wednesday, Oct 26, 2022. 


The meeting was conducted in a hybrid format: 6 members of the Finance Committee were in the Council Chambers along with some of the public, 1 member was remote along with some members the public via conference bridge, all to adhere to the ‘social distancing’ requirements of this pandemic period. 


The primary discussion was with Kevin Doyle, Assessor and Chris Feeley, Chair of the Board of assessors as the assessment process was covered at a high level. How are residential homes assessed? How are commercial/industrial properties assessed? 


Interesting fact, the assessment process produces about 60% of the Town of Franklin revenue.


The meeting recording runs about seventy minutes, so let’s listen to the Finance Committee meeting Oct 26, 2022.


Audio file ->  https://franklin-ma-matters.captivate.fm/episode/fm-867-franklin-ma-finance-cmte-mtg-10-26-22


--------------


Meeting agenda document ->   https://www.franklinma.gov/sites/g/files/vyhlif6896/f/agendas/10-26-22_finance_committee_meeting.pdf

 

My notes ->   https://drive.google.com/file/d/1qvpZtcz3JE529S9wN1tkJJ3FB9w92B8N/view?usp=sharing


Link to Finance Committee => https://www.franklinma.gov/finance-committee 


YouTube recording =>  https://youtu.be/OaibaQ9dOBk 



--------------


We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm) or 102.9 on the Franklin area radio dial.  


This podcast is my public service effort for Franklin but we can't do it alone. We can always use your help.

 

How can you help?

  • If you can use the information that you find here, please tell your friends and neighbors

  • If you don't like something here, please let me know


Through this feedback loop we can continue to make improvements. I thank you for listening.


For additional information, please visit Franklinmatters.org/ or www.franklin.news/

If you have questions or comments you can reach me directly at shersteve @ gmail dot com


The music for the intro and exit was provided by Michael Clark and the group "East of Shirley". The piece is titled "Ernesto, manana"  c. Michael Clark & Tintype Tunes, 2008 and used with their permission.


I hope you enjoy!

------------------


You can also subscribe and listen to Franklin Matters audio on iTunes or your favorite podcast app; search in "podcasts" for "Franklin Matters"


Finance Committee hears of the assessment process which accounts for about 60% of the Town of Franklin revenue (audio)
Finance Committee hears of the assessment process which accounts for about 60% of the Town of Franklin revenue (audio)

Thursday, October 6, 2022

"Half of all the refund money will go to the top 10 percent of households by income."

"THE STATE is preparing to pay out $1.4 billion in “illusory” funds under the tax cap law, giving wealthy taxpayers a huge windfall, according to a report from the left-leaning Massachusetts Budget and Policy Center.

Officials at the center say they are not accusing state officials of doing anything wrong or making a math error. Instead, they are saying a set of unusual circumstances are combining to inflate the amount of taxes collected in excess of the tax cap, and doing so in a way that shortchanges the state and allows wealthy taxpayers to gain an even bigger benefit than they normally would.

“The affluent win in every way,” said Phineas Baxandall, senior policy analyst and advocacy director at the Budget and Policy Center.

The broad outlines of the situation have been raised before, but the Budget and Policy Center report is the first time the dollar impact has been spelled out. The report calls on state leaders to address the situation, but they have shown little interest so far in intervening to change the tax cap law."

Continue reading the article online 

Reading between the lines, if the Governor wasn't so hasty in trying to the funds returned by check and used the tax rebate process, the 'illusion' might work itself out.  

The State House News Service, shared via Franklin Observer, tries to focus on the issue as party based:

Q1 State Tax Take Surpasses Record FY `22 Pace, but No Tax Relief in Sight
The golden dome of the State House. (Photo by Andy Metzger)
The golden dome of the State House. (Photo by Andy Metzger)

Friday, August 5, 2022

CommonWealth Magazine: after all the he said/she said, tax credit might be less than Gov Baker claimed

"AS THEIR CAREFULLY crafted plans for tax relief and massive spending outlays began to slip away with last Thursday’s stunning news about a 1986 tax law, frustrated Democrats on Beacon Hill went into spin mode.

First, late Friday afternoon, Rep. Christine Barber of Somerville took to the House floor to suggest that plans by the Baker administration to sweep a $225 million fund may have been part of the administration’s move to trigger the 36-year-old law that the Baker administration a day earlier said could force nearly $3 billion in tax relief later this year, or about 7 percent of the income taxes paid in 2021.

“It’s becoming clear that to cover closing costs for 2022 and to possibly pay for the $2.8 billion that will go to the taxpayers under Chapter 62F, there may have been some other need for these funds,” Barber said. “I hope that those funds were not used at the expense of covering low and moderate income families’ health care, but that looks like what might be happening. But we know that rather than spend these funds that were in the Commonwealth Care Trust Fund, the governor swept those funds out and then replaced this new program that we created with a study.”
Continue reading the article online

"STATE OFFICIALS said on Thursday that tax revenues grew by more than 20 percent in the most recently completed fiscal year, but that growth will nevertheless yield a tax cap credit that is probably more than $600 million less than what the Baker administration estimated last week.

The tax cap is a 1986 law that sets “allowable” tax revenue the state can take in during a given year and requires collections in excess of that amount to be returned to taxpayers in the form of a credit."
Continue reading the article online

Friday, July 29, 2022

Beacon Hill Round up: likely tax rebate coming in some amount/form; MA Senate union debate goes forward

"In a surprise, Baker says taxpayers could receive ‘north of $2.5 billion’ in tax relief under little-known law" 

"With state coffers overflowing, Massachusetts taxpayers could receive nearly $3 billion in tax relief under an obscure 36-year-old law, Governor Charlie Baker’s administration said Thursday, surprising lawmakers just as separate tax relief talks seemed to be reaching a crescendo.

The likelihood of a decades-old law forcing the state to give back billions to taxpayers quickly shook Beacon Hill on the same day data showed the economy had edged closer to, if not officially in, a recession.

It also complicated legislators’ negotiations over a $1 billion package of tax breaks and rebates — a mammoth proposal lawmakers pursued to help ease the pinch of ballooning inflation but were still scrambling to complete before their legislative session ends Sunday night.

How much the state could ultimately hand back to taxpayers is unclear. But Baker said Thursday that the state appears poised to trigger a 1986 voter-passed law that seeks to limit state tax revenue growth to the growth of total wages and salaries in the state."
Continue reading the Boston Globe article (subscriptions may be required)

CommonWealth Magazine coverage

Mass. Senate president won’t voluntarily recognize staff union effort, doesn’t ‘see a path forward’

Nearly four months after legislative staff in the Massachusetts Senate formally asked President Karen E. Spilka to recognize them as an employee union, Spilka rejected the effort.

“The Senate does not at this time see a path forward for a traditional employer-union relationship in the Senate as we are currently structured,” she wrote in a staff email on Thursday evening.

Staffers expressed dismay at her decision.
Continue reading the Boston Globe article (subscriptions may be required)

The union responded Senate President Spilka's statement with their own:

Thursday, July 28, 2022

Beacon Hill Roundup: Conf Cmte agreement on veterans services; possible reshaping of local public health; tax cap to be triggered

Lawmakers reach agreement on Soldiers’ Home governance
"LEGISLATIVE NEGOTIATORS have come to an agreement on how to overhaul the governance of the state’s two Soldiers’ Homes in Holyoke and Chelsea. 

A bill released Wednesday evening lays out a new administrative structure for the homes, which elevates the Secretary of Veterans Services to a cabinet-level position while also creating a new independent Office of a Veterans Advocate. The bill represents a major bureaucratic restructuring with multiple levels of oversight and administration aimed at improving the management of the homes.  "
Continue reading the article online
 
With time short, lawmakers seek to reshape local public health

"THE LEGISLATURE is poised to dramatically reshape Massachusetts’ local public health landscape, after the COVID-19 pandemic spotlighted just how inadequate it is. 

“I’ve been doing this work for almost 25 years and it’s just astounding to me the opportunity that we’re being presented with here, and the fact that the Legislature really understands the importance of delivering services fairly and equitably throughout the Commonwealth,” said Cheryl Sbarra, executive director of the Massachusetts Association of Health Boards. “It’s something those of us involved in local public health have been dreaming for our whole careers.” 
Continue reading the article online

Long-forgotten tax cap about to be triggered

"WHILE LAWMAKERS scramble to put together a package of tax breaks in the final days of the legislative session, a little-known law from the mid-1980s is about to alter the Beacon Hill debate over tax relief.

Record tax revenues in fiscal 2021 are expected to trigger the state’s tax cap for the first time in more than 30 years, setting the stage for Massachusetts taxpayers to claim sizable credits on their 2022 returns.

The exact size of the credits is unclear because some of the information needed to calculate them is not yet available. But sources say the amount of money at stake could be significant. It’s also unclear whether the return of the money under the tax cap will affect ongoing discussions about a package of tax breaks and cash payments to residents totaling roughly $1 billion.

The tax cap is one of those laws that has largely faded from memory. It was passed by voters in 1986, in the midst of the so-called Massachusetts Miracle. Put forward by Citizens for Limited Taxation and the Massachusetts High Technology Council, the ballot question sought to restrict how much tax revenue the state could take in, limiting the growth in revenues to no more than the growth in total wages and salaries."
 
Continue reading the article online

A chart showing allowable tax revenues and net tax revenues since 1987.
A chart showing allowable tax revenues and net tax revenues since 1987.

Thursday, May 5, 2022

Senate President Spilka: "to explore providing tax relief to the people of the Commonwealth”

"MASSACHUSETTS TAX revenues continued to soar in April, astonishing experts who track the numbers and prompting Senate President Karen Spilka to announce that she intends to push for some sort of tax relief package before the end of June.

April tax collections totaled $6.9 billion, up more than $3 billion compared to the same month a year ago and more than $2 billion ahead of the state’s revenue forecast for the month. Even after adjustments for an excise tax that is temporarily accelerating tax payments, revenues in April were up 77 percent from a year ago and 43 percent ahead of the state’s consensus revenue forecast, according to numbers released by the Department of Revenue on Wednesday."

Continue reading the article online -> 

Senate President Karen Spilka's statement on the tax revenue and relief package as proposed   https://twitter.com/KarenSpilka/status/1521998899346558976

Senate President Spilka: "to explore providing tax relief to the people of the Commonwealth”
Senate President Spilka: "to explore providing tax relief to the people of the Commonwealth”

Tuesday, January 11, 2022

Add this to the worry list: IRS "warns of ‘enormous challenges’ this tax-filing season"

"Treasury Department officials on Monday said that the Internal Revenue Service will face “enormous challenges” during this year’s tax filing season, warning of delays to refunds and other taxpayer services.

In a phone call with reporters, Treasury officials predicted a “frustrating season” for taxpayers and tax preparers as a result of delays caused by the pandemic, years of budget cuts to the IRS and the federal stimulus measures that have added to the tax agency’s workload.

Typically, IRS officials enter filing season with an unaddressed backlog of roughly 1 million returns. This year, however, the IRS will enter the filing season facing “several times” that, Treasury officials said, although they declined to give a more precise estimate. The IRS website says that as of Dec. 23, 2021, it still had 6 million unprocessed individual returns, and as of the start of this month it still had more than 2 million unprocessed amended tax returns, a separate category."
Continue reading the article online (subscription maybe required)
https://www.washingtonpost.com/us-policy/2022/01/10/treasury-irs-filing-season/

FYI - For 2020, I filed in February and didn't get a return status until July.  I had a very minor miscalculation in my return that held it up.  Only thing to do is file early, and file accurately.

IRS Commissioner Charles Rettig appears before a House panel last year. (Toni L. Sandys/The Washington Post)
IRS Commissioner Charles Rettig appears before a House panel last year. (Toni L. Sandys/The Washington Post)



Thursday, April 15, 2021

"lawmakers are taking a “cautiously optimistic approach” to Massachusetts’s fiscal picture"

"HAPPY DAYS are here again. That may not be the case for most Massachusetts residents, still in the grip of the COVID pandemic, but it appears to be the case for state budget writers – at least for now.

The House Ways and Means Committee budget proposal released Wednesday would spend $47.649 billion in fiscal 2022 – or $1.8 billion more than what Gov. Charlie Baker proposed, and a 2.6 percent increase over this year’s budget.

The House budget includes no new revenue initiatives and no significant spending cuts – and doesn’t rely on the enormous influx of federal dollars that are expected to flow into Massachusetts from the American Rescue Plan, which President Biden signed in March. "

Continue reading the article online 
 

House Ways and Means Committee budget
House Ways and Means Committee budget


Tuesday, April 6, 2021

CommonWealth Magazine: State revenue exceeds projection again; Committee on reimagining the post-COVID commonwealth begins work

 

"THE DEPARTMENT OF REVENUE collected more than $3 billion from Massachusetts residents, workers, and businesses last month, once again shattering the Baker administration’s expectations and putting the state’s coffers more than $1.5 billion ahead of where they were at the same time last year.

Revenue collections for March added up to a total of $3.061 billion — $402 million, or 15.1 percent, more than what was collected in March 2020 and $648 million or 26.8 percent more than what the Baker administration was expecting to collect last month.

Now nine months through fiscal year 2021, Massachusetts state government has collected $22.588 billion in taxes from people and businesses, which is $1.524 billion, or 7.2 percent, more than it did during the same nine mostly pre-pandemic months of fiscal year 2020. The last month Massachusetts saw a year-over-year decline in tax collections was September."

Continue reading the article online
 
"WHEN SEN. ADAM HINDS looks at the disproportionate toll COVID-19 has taken on poor people and communities of color in Massachusetts, he said, “It’s hard not to experience it as a massive policy failure.”

Hinds, a Pittsfield Democrat who now chairs a special Senate Committee on Reimagining Massachusetts Post-Pandemic Resiliency, said inequity will be a major focus of the committee as it has broad discussions on how to rebuild a stronger state in the wake of the COVID-19 emergency.

“It would be a dereliction of duty if we didn’t do everything in our power to correct the inequities that led to more death in certain communities,” Hinds said."
Continue reading the article online

Friday, March 26, 2021

MA State News: wind energy and commission report on special taxes

Mariano pledges to turn South Coast into ‘hub of wind energy’ 

"MASSACHUSETTS HOUSE SPEAKER Ron Mariano on Thursday pledged to make major investments to turn the South Coast into “a hub of wind energy for the region.” 

Mariano, in a virtual speech to the Greater Boston Chamber of Commerce, envisioned using the nascent offshore wind energy industry as a way to create jobs in Massachusetts while positioning the state to be a leader in a growing field."

Continue reading the article online

Commission raises flags on film, alcohol, Fidelity tax breaks
"A COMMISSION ESTABLISHED to review the effectiveness of special tax breaks issued by the state of Massachusetts raised serious concerns in its initial report about measures benefitting the film, alcohol, and mutual fund industries.

The Tax Expenditure Review Commission, in a first-of-its-kind report, tried to rate the effectiveness of 26 of the more than 200 tax breaks that in some cases have been on the state’s books for decades and never been subjected to any scrutiny even though they represent billions of dollars in foregone revenue."
Continue reading the article online