Finance officials remind of dangers of building only housing

We held our annual vote to approve the tax levy at the 10/2 City Council meeting. While tax payments will again remain mostly flat, the total levy ($389M) and property assessments continue to increase in large part because the commercial property tax base has continued to grow, making it possible to keep residential tax bills among the lowest in the state. That’s the bargain we’ve struck. I am quoted in this article: “Councillor Jan Devereux wanted to hear more, considering the ‘tremendous amount of political pressure’ the city was facing to build more housing, making enough supply that prices remain affordable for people who want to live – and ideally buy – in Cambridge. ‘But if we build a whole bunch of housing, we have to build a bunch of commercial too, right? That’s always left unsaid’ by proponents, she said. ‘I’d really like to see where that takes us in terms of density and population.’”

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Jan Devereux
City Councillor
Cambridge, MA