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| Nearly 12K sq. ft. in boroughs lease deals closed | | | Greater Boston Commercial Properties of Northborough announced three lease deals last week representing nearly 12,000 square feet of office space in Northborough and Westborough.
Bret O’Brien, president of Greater Boston Commercial Properties,... | | | | Read more >> | | |
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| | | Nominate a Business Leader of the Year | | | | Worcester Business Journal has opened the nomination window for its annual Business Leaders of the Year awards, which includes three new categories this year. | | | | Read more >> | | | | What you need to know in banking and finance for 2017 | | | | The increase in interest rates is exactly what many in the financial field have been waiting for, and something we have been talking about seemingly for years. Low rates have meant low margins, which have meant struggling times for many lenders. | | | | Read more >> | | | | What you need to know in real estate for 2017 | | | | Worcester officials and area developers have been working hard to build up development, and now the city is reaping the benefits. | | | | Read more >> | | | | | | Like us on Facebook for our latest business news |
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| | | Question of the Week | | | | Can't answer the question in your email? Click here to view as web page before commenting. | For the second year in a row, Worcester expanded the dual tax rate gap between what business property owners pay vs. what residential property owners pay, reversing a four-year trend of slowly moving back toward a single-tax rate for the first time since 1984. The average business property tax bill is expected to increase $360 in 2017, compared to $52 for residential. What will be the main impact of Worcester's split tax policies? Worcester loses out on businesses that would relocate here if taxes were lower.
Businesses in the city will leave for the lower-tax suburbs.
While the tax rates are bothersome the pull of the city keeps the economy moving in a positive direction.
The city's residents are better served which benefits the community and the economy.
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