By Andy Metzger, State House News Service / The Lowell Sun
Facing a midyear budget deficit, lawmakers and Gov. Charlie Baker in February rerouted those excess capital-gains revenues into the general fund. Massachusetts Taxpayers Foundation President Eileen McAnneny said fiscal 2015 capital-gains tax revenues have come in at about $1.6 billion, exceeding the amount anticipated from the February change.
ccording to the latest Massachusetts Taxpayers Foundation survey of municipal financial data, the comparative tax bill for owners of a single-family home in Beverly ($5,031) stacked up pretty well against the state average of $5,257 and those in the surrounding communities of Salem ($5,944) and Danvers ($5,276).
Eileen McAnneny, president of the business-oriented Massachusetts Taxpayers Foundation, noted that there already is progressiveness in the tax code, due to exemptions and credits that are available to low-income individuals.