FY24 Understanding Your Taxes Newsletter
The establishment of the Fiscal Year 2024 (FY24) property tax rate by the Board of Assessors, subject to the approval of the Massachusetts Department of Revenue, is the final step in the fiscal process that begins with the submission of the annual budget to the City Council. The City’s Operating and Capital Budgets, property classifications, and property valuations are major factors in determining property tax bills.
Cambridge Small Business COVID-19 Recovery Grant
The Small Business COVID-19 Recovery Grant Program is a complementary grant program to the city’s Small Business COVID-19 Relief Grant. It is a special program helping Cambridge’s U.S. Department of Housing and Urban Development (HUD) eligible for-profit retail, food, personal services, and creative businesses with a grant up to $10,000 per brick and mortar business. The program provides short-term working capital assistance to support businesses with inventory purchases (perishable and non-perishable), Personal Protective Equipment (PPE) purchases or upgrades, and rent payments to enable businesses to open and ensure the retention of jobs after the severe interruption of business related to COVID-19 social distancing requirements.