Aug. 12, 2025

Dear President Sideris,

On behalf of the Charles River Regional Chamber and the Watertown business community, we thank you for the many steps you have taken over the years to support local businesses. However, we are concerned that the city is planning to reapply for special property extension from the state.

While we understand that the 175 percent commercial property tax shift helps ease the burden on residents and homeowners, it comes with a cost. A cost that is borne by our small and large businesses alike. These are the businesses that contribute to Watertown’s commercial centers, provide jobs, and strengthen our tax base.

And today, many of them are struggling to cope with this challenging economic climate. Tariffs, inflation, high interest rates, immigration disruptions, and cuts to federal research funding are impacting nearly every sector from our labs, tech firms, and health providers to locally owned restaurants, retailers, and service businesses.

We encourage the council to set property tax rates in a way that protects our business community’s ability to remain strong, competitive, and able to thrive.

Sincerely,

Greg Reibman

President & CEO 

Charles River Chamber

117 Kendrick St., Suite 300, Needham, MA 02494

617-799-0550