A Quincy Quarry News file photo image

Quincy Massachusetts News, Opinion, and Commentary by Quincy Quarry News

 

| quincy news

Enough already!
file photo image

Last night’s Quincy City Council meeting became contentious and then some when local mostly homeowners spoke up at one of the very few times during a year when the public is allowed to offer up comment on the record during Quincy City Council public hearings.

The main event at last night’s public hearing was to set the tax rate classification and which is the opening step for Quincy elected officials to then set property tax rates for the upcoming new calendar year.

Accordingly, a number of residents endeavored to pose their travails given soaring property tax bills on their homes in recent years.

Soaring by as much as 18% in 2024 said some.

| quincy news

Quincy City Council President Ian Cain wrapping himself with the flag
A file photo

In turn, on a number of occasions City Council President Ian Cain summarily turned of the microphone set up at the podium for locals to offer public comment on the record as well as that Cain was often also snippy and worse with those expressing their financial pain given soaring property tax bills.

Inexcusably snippy.

Further inexcusable, part and parcel to the annual tax rate classification hearing is providing a reasonable sense of what local homeowners can expect to see in the way of increases in their property tax bills come the start of 2025, however, such information was not provided.

| quincy news

Single family assessed values going up 2.6%
A Koch Administration graphic

Fortunately, Quincy Quarry personnel covering the public hearing caught a quick showing of a PowerPoint style presentation screen that allowed for the interpolating of what homeowners should expect in the way of increases in their property tax bills come the New Year.

The bad news: property tax bills would appear to be increasing by just short of 5% on average and so on the high end of the range that Quincy Quarry News predicted weeks ago.

| quincy news

“Look, I need an 89% pay raise to pay my property tax bill”
A file photo

Granted, the Quincy Quarry News’ interpolated average 4.61% single family residential tax increase on the median value single family residence in 2025, ceteris paribus, will be less than the average over 8% property tax increase imposed on homeowners locally in 2024.

At the same time, 4.61% tax increase is still an outsized increase in the context of Prop 2 1/2 supposedly holding the total local property annual tax levy increase to 2 1/2% annually plus “New Growth”.

That and how on an identical assessed value bases Quincy homeowners have traditionally paid 10% to 20% higher property tax bills than Braintree and Weymouth homeowners.

Similarly, the median assessed value homeowner in Quincy pays over twice as much as a Boston homeowner pays on the same assessed value property as well as the no matter what is the dollar amount of a Boston residence’s assessed value, a similarly assessed property in Quincy faces a higher to much higher property tax bill.

| quincy news

LOOK OUT BELOW!!!
Image via Barron’s

Further problematic, the City of Quincy’s annual debt service expense is already on track to increase by upwards of 50% in Fiscal Year 2026 care of seriously koched-up debt issuances and thus the city’s debt expense next year will be leaning on $100 million given additional debt issuances variously in the works.

Concurrently, in FY 2026 City of Quincy debt expense will so run roughly 20% of the FY 2026 budget and which is considered to likely to give rise  to potential problems for the City of Quincy’s credit rating, problems at least alluded to in the city’s most recent credit rating.

 

| quincy news

%$#@*!!!
Image via Canva

Further yet problematic, such a dramatic increase in debt service will likely fuel an average residential property tax increase in Calendar Year 2026 on the order of 2024’s over 8% increase.

Even more disconcerting, various other serious debt issuance commitments already made as well as anticipated will result in Quincy homeowners continuing to face painful property tax increases given the City’s metastasizing nine figure debt expense burden for most of the rest of the 2020’s, if not also continuing into the 2030’s.

QQ Disclaimer

 

Pin It on Pinterest