Which is not to say Massachusetts tax rates generally are on the rise. In fact, some 127 communities actually will see residential tax rates decline on a year-over-year basis in 2016. At least 131 cities and towns will see declines in commercial rates. If only tax bills followed suit.
Rather, tax rates typically move inversely with property values — meaning if values are on the rise, as they have been for the better part of four years in Massachusetts, rates are likely to fall. That's about the extent of the wiggle room towns and cities have in determining rates on a year-to-year basis, save for the rare tax override or the addition of newly taxable property. Thus are the finer points of the state's longstanding tax code forever known as Proposition 2 1/2.
Among the big takeaways from this year's rate-setting exercise for local cities and towns:
- At $39.86 per $1,000 in assessed value, Holyoke has retained its inglorious distinction as the community with the highest commercial property-tax rate in Massachusetts. Other Gateway cities, such as Springfield and Pittsfield, also topped the list, a sign of how tax-sensitive residents in those communities are ... and how much businesses are squeezed to fund local services. All told, some 28 communities will have commercial rates above the $30 threshold this year.
- At $24.33 per $1,000 in assessed value, the Western Massachusetts community of Longmeadow posted the highest residential rate in the state. It was Longmeadow's third-consecutive No. 1 ranking, making it the poster child for communities with tiny business districts and an over-reliance on residential property owners to fund town services. This year, roughly 25 communities will have residential rates above the $20 threshold, versus 18 last year.
- At $18,762, the town of Weston boasts the highest-average single-family tax bill in the state this year, followed by Sherborn ($15,104) and Lincoln ($15,033). A total of 20 communities will have an average bill above the $10,000 threshold, versus 15 in 2015.
- In Greater Boston, the town of Wellesley has seen the largest increase in its average single-family tax bill over the past decade. Since 2006, Wellesley's average bill has increased 70 percent to $13,971. Second is the town of Scituate (up 69 percent, $7,192 average) and third is Fall River (69 percent, $2,835.)
posted by Jeff Bennett (from the Boston Business Journal)
No comments:
Post a Comment