Boston Mayor Michelle Wu spoke to a joint committee on Beacon Hill Wednesday to advance her revised tax proposal.
The mayor urged lawmakers to approve it in time for Gov. Maura Healey’s signature. Wu called the revised plan, with more protections for small businesses, a compromise, balancing the needs of residents and the business community.
Boston’s commissioner of assessing used a paperclip as a visual aid during the presentation to lawmakers to illustrate a new balance: An effort to offset revenue losses caused by vacant business space by shifting and increasing the tax burden onto commercial properties.
“We need residents to have enough money in their pockets at the end of every month to go out and support our businesses,” Wu said.
She warned that homeowners could face steep property tax increases without the plan, which would likely be passed on to renters.
Lawmakers, however, pushed back, questioning the city’s financial needs.
“We all …