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More than any other city on the East Coast, Boston is addicted to property taxes. Could the Hub be hitting a crippling tax-levy ceiling soon?
In 2012, collections on homes, buildings, and private infrastructure will feed more than 65 percent of Boston's $2.4 billion budget.

It's 2015. Foreclosures have left Boston's outer neighborhoods gutted, and homes virtually worthless. Downtown, property values have also dropped, triggering sharp declines in commercial activity. The budget has been gutted, and reductions in essential city services are noticeable. Teacher, fire, and police contracts that were negotiated in 2011 and 2012 continue to bleed resources, as baby-boomer pension costs increase at exceedingly higher rates than the city's available finances.

>> CHART: Beantown counters: Boston's addiction to property taxes <<

It's a doomsday scenario, sure. But it's one that becomes more and more likely as Boston's residential values continue to tumble, as they have since the 2008 housing-market meltdown. Experts have been saying for years that the economy will rebound, but so far they've been wrong. And there's more at stake here than real estate — the Hub's budget hinges on how much your home is worth.

More than any other major East Coast city, Boston relies on business and residential owners to pay for things like jakes and teachers. One critical observer says the budget is "like an animal that we have to keep feeding" with property-tax levies; in 2012, collections on homes, buildings, and private infrastructure will feed more than 65 percent of Boston's $2.4 billion budget.

That's feasible right now. But in the next five years, Boston could hit the ceiling for how much property tax it can extract under state law. In the uncertain interim, some say that prospect should raise concern on several fronts:

* Though Boston businesses still pay the lion's share of property taxes, city assessors, out of necessity, have gradually shifted more tax burden onto homeowners for nearly a decade. That affects everyone from downtown millionaires to low-income renters.

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Bostonians rising in anger -- and action -- against ableism, racism, Verizon, and Fox News
Union flags were flown, loud music roared, and fleets of motorcycles rumbled, as several thousand people marched for civil rights and human dignity, and, in at least one case, to scold moguls for banking gross salaries at the expense of workers.

DROPPING BOMBS After being snubbed by the Urban League, advocates for disabled minorities gathered near the State House to demand a seat at the table.

Boston burned last week, with pandemonium blazing from Beacon Hill to Dorchester's foreclosed ghettos. Union flags were flown, loud music roared, and fleets of motorcycles rumbled, as several thousand people marched for civil rights and human dignity, and, in at least one case, to scold moguls for banking gross salaries at the expense of workers.

>> SLIDESHOW: Protests of Fox News and Verizon <<

According to the Cambridge-based National Bureau of Economic Research, which determines when recessions start and end, the meltdown that began in 2007 cooled off last year. But despite that rosy reassurance, the unemployment rate has hovered at around nine percent for 28 months, and is showing no real sign of recovery. Just this past week, Wall Street suffered its biggest drop since the peak of economic wreckage three years ago.

To worsen matters, the recent debt-ceiling quagmire reminded Americans that they're governed by a callous brood of bozos. If there was ever faith — on the left or the right — that either Barack Obama or the Tea Party would steer us onto a more comfortable course, it's flown the way of the bald eagle.

Boston feels the pain. In addition to an awful rash of violence — 159 shootings and 34 homicides so far this year — vacant storefronts and suspended building projects add insult to tragedy. There have been small victories; last week, for example, the perpetual protest group City Life/Vida Urbana, along with more than 100 picketers, stalled an eviction on Normandy Street near Franklin Park. But this is a long war, with countless theaters and no apparent end. Here's a view from the front lines.

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From Beacon Hill to Post Office Square | August 4, 2011
Members of the Boston Media Reform Network (BMRN) protest Fox News at Beacon Hill on August 4, 2011; Verizon field workers and their allies protested Verizon at Post Office Square also on August 4, 2011.

Verizon field workers and their allies protested Verizon at Post Office Square on August 4, 2011.

READ: "Do the Fight Thing" by Chris Faraone

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