15 Sep 2014
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Patch Instagram photo by jswnutrition

What Companies Have Tax Bills $10+ Million in Boston?

You'll recognize some businesses on the list, such as National Grid and NSTAR.


Can you name the company that has the highest tax bill in Boston for $83,628,890? Give up? The answer: Blackstone Real Estate Partners.

According to statistics provided by the City of Boston (see attached), the powerhouse real estate company had the highest tax bill for fiscal year 2012.

Boston Properties had the second highest tax bill - $67,577,332. But the tax bill comes with an asterisk - that the company purchased the Hancock Tower from Normandy Real Estate in Dec. 2010.

The Hancock Tower was reflected in Normandy’s real estate figure last year, as they were listed as the owner of record in the fiscal 2011 assessment, according to the attached memo. The Hancock Tower is in Boston Properties’ real estate figure. And this move lowered Normandy’s fiscal 2012 tax liability below $10 million.

Not to be confused with the tower - John Hancock Financial - had a tax bill of $12,629,054.

Utility company NSTAR - also known as Boston Edison Company - had a tax bill of $53,733,088, owing the third most to Boston. Fellow utility company, National Grid was eighth, with a tax bill of $14,611,674.

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