NEW OFFICE VALUES REPORT: Boston faces $1.4B-$2.1B in lost CRE revenue
A year of new data make the findings from BPI & cSPA's February 2024 report look "outdated and overly optimistic" according to BPI & cSPA's new June 2025 report
Boston Policy Institute, Inc is pleased to announce the release of its latest report, the Ongoing Fallout from Boston’s Empty Offices, written in partnership with the Center for State Policy Analysis at Tufts University.
This new report builds on the previous report from BPI & cSPA, the Fiscal Fallout of Boston’s Empty Offices, published back in February 2024. With a year of new data, the findings from February 2024 now look outdated and overly optimistic. A lack of decisive action, combined with a faster-than-expected decline in tax assessments, has further darkened the outlook.
BPI’s February 2024 office values report launched the conversation about falling office values in Boston, and played an important role in the debate about Mayor Wu’s tax shift proposal. That previous report, along with the report released today, remains the only orginial research by a local organization quantifying the impact of falling office values on Boston’s budget, and is unique: the only other report about how offices values could impact Boston’s budget is from the DC-based Tax Policy Center.
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