The process of deciding what happens at the MCI-Concord site is underway, and Concord has an important seat at the table. The MCI-Concord Advisory Board is developing an informed opinion through community engagement to advise the Select Board on scenarios for further consideration. The state has provided funds for Concord to engage consultants if we so choose. The Finance Committee encourages the Advisory Board to engage an economic consultant to fully assess the impacts of various scenarios for the future of the site and to prioritize commercial development as an option, given the critical need to diversify our tax base.
As we show in our Annual Report for Fiscal Year 2025, residential properties constitute 93 percent of Concord’s tax base. What this means is that residents shoulder most of the burden as our taxes increase over time. Our most recent five-year tax projection bears this out. We project that the median residential property tax bill will increase by a staggering 7.8 percent annually over the next five years in order to keep up with the projected growth in town and school spending. Such year-over-year increases are clearly unsustainable.
The MCI-Concord site presents an opportunity to slow this trend through responsible commercial development. Through a thoughtful planning process, informed by other communities’ experiences, we can encourage commercial development that diversifies our tax base and remains consistent with Concord’s character.
We encourage taxpayers to participate in the planning process that the advisory board is supporting, with the need to diversify our local tax base in mind. Let’s take full advantage of this once-in-a-lifetime opportunity to set Concord on a path to a financially stable future.
Eric Dahlberg
Chair, Concord Finance Committee
Finigan Way