Boston Office Slump Deepens as Mayor Pushes for Higher Taxes (1)

Commercial building values in Boston are on track to fall another 6% in fiscal 2026, deepening a two-year slide in a city that leans more heavily on real estate taxes than almost any other major US municipality.

Preliminary figures released by the city on Wednesday show office towers and lab buildings losing even more value than they did last year, when assessments fell 5% amid high vacancies and limited investor interest.

As commercial values drop while residential ones rise — and state law restricts how much Boston can rebalance its rates — a larger part of the responsibility shifts to ...