Monday, February 02, 2009
Fox News has reported another scam. The one thing wrong with the story is that the BRA says it does not cost taxpayers anything. That is not true. If something is being undervalued it costs us taxpayer dollars. For example, the BRA makes 121A tax breaks available to rich property owners like the One Beacon building. These tax breaks are supposedly to be used for affordable housing, but the BRA acts like a loan shark, extorting money from rich commercial owners, in order to allow them to not pay their fair share of real estate taxes to the City of Boston. This has cost taxpayers tens of millions of dollars in the last few years. This will be its own scam of the week later in more detail.