🤑 How Healey’s tax plan could impact you

It's Tuesday, Boston.

🥞 It’s also National Pancake Day, which means IHOP is offering a free short stack of buttermilk pancakes until 7 p.m. But, if you want to celebrate the holiday like a local, definitely try the sweet potato pancakes at Deluxe Town Diner in Watertown instead. Some of the best in the area, IMO.

👀 What’s on tap today:

• A wintry week ahead

• Residential neighborhoods are thriving

• Boston’s bookstore boom

Up first…

POLITICS

Is that tax relief I see?

Mass. has a reputation for stubbornly high taxes. But some relief is in sight after Gov. Healey released her new tax package on Monday. The nearly $750 million plan would not only put millions back into the pockets of families, renters, seniors — and yes, wealthy residents — but could also make doing business in Mass. more enticing. Here are a few ways it could impact you:

❤️ If you’re a parent or caregiver, you’d be eligible for a $600, fully refundable tax credit for each qualifying dependent (e.g., children under 13, people with disabilities, and seniors over 65). This part of the plan is the priciest, at around $450 million, and would provide relief for over 700,000 taxpayers who are supporting over 1 million dependents, according to the governor’s office.

🏠 If you’re a renter, you’d be able to deduct more rent off your taxes (an extra $1,000, to be exact). The max deduction would be $4,000 under the new plan, compared with $3,000, which would impact around 880,000 residents.

💸 If you’re an investor, you’d get to keep a little more dough, as the capital gains tax rate would drop from 12% to 5%. This would save residents around $117 million a year.

💰 If you’re getting an inheritance, you’ll also save some money, as the plan would essentially eliminate estate taxes for estates under $3 million through a $182,000 credit (beneficiaries are currently subject to the tax on estates valued at over $1 million). This credit would cut down on taxes owed from pricier estates, too.

🧓 If you bike or take public transit, your regional transit passes and bike commuter expenses would be eligible for tax deductions.

TOGETHER WITH NOBEE

Say goodbye to the full broker’s fees

🏢 And say hello to Nobee — a local rental agency changing the real estate game. They have the same inventory you’d find on other websites, but their transparent pricing allows you to save up to 100% on broker fees. Scheduling a tour with Nobee is super fast and easy, so skip the back-and-forth emails and book yours today.

CITY

Quick & dirty headlines

❄️ Buckle up for two more potential storms this week. I know, it’s almost like it’s winter in Mass. or something. On top of today’s mess, meteorologists are also tracking two other systems coming down the pike. It’s a little early to know the impacts of both, but right now, we’re looking at mostly rain with a potential wintry mix Wednesday night into Thursday, then some snow/rain Friday into Saturday. You can keep up with the latest forecast here. And don’t start panic buying bread just yet.

😡 Local landlords want the deets on the origins of Wu’s rent control plan. So much so that a group representing local landlords filed a lawsuit asking that a judge order the City of Boston to turn over emails between members of the mayor's rent stabilization advisory committee. They say they want to know how the committee and rent control proposal itself came to be. The group filed a public records request for the messages last year and the city has only turned over one email so far.

🏘️ Residential neighborhoods are thriving, while downtown is just surviving. An analysis of commercial property data shows that 12 Greater Boston neighborhoods have fewer empty storefronts compared with the Financial District. In Allston, for example, just 2.8% of the shops were empty at the end of 2022, versus 7.4% downtown. Why? When you have more people working from home, they’re more likely to stop by community events or businesses throughout the day — something that the downtown can’t tap into if fewer people are in the office.

📚 Boston is having a bookstore boom. Around 10 local bookstores have either expanded, opened, or are in development since 2020, which can be thanked, in part, to the pandemic. People were looking for offline places to connect as restrictions lifted and bookstores were ready to fill that need. Plus, all that time inside had people turning to books. But not everything is perfect, as bookstores are also dealing with inflation, supply chain issues, and labor shortages.

ONE LAST THING

The OG Waze

Ever wondered how those signs on the highway figure out how long it takes to get somewhere?

Well, Boston.com’s Wickedpedia found the answer. The Mass. Department of Transportation uses a system called Go-Time, which informs an app along with the highway boards (pictured above). It uses Bluetooth data from cars and passing devices to figure out how long it takes travelers along the route.

But they don’t show data from people going over the speed limit. So if you’ve got a lead foot, that estimated travel time of 10 minutes may be generous.

🚘 Thanks for reading! If I’m driving, a 10 minute ETA usually translates to 7 minutes. 5 minutes if I’m walking.

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