Assessors, BOS approve property tax hike

A state decision to change the way land is valued in all communities has resulted in a property value drop and a 57-cent increase in the residential tax rate, with a larger increase for commercial properties.

Selectmen affirmed the recommendation of assessors Friday afternoon and set the tax rate at $12.87 per $1,000 valuation for residential properties, up from $12.30, and $26.52 per $1,000 for commercial properties, up from $24.99.

Assessors recently completed a revaluation of all properties, with the next one set for fiscal year 2017. The total taxable valuation of the town is now $3.884 billion.

As a result of the new rates, the average single-family tax bill will increase by $76. Finance Director Jim Murgia said the new rates will go into effect for the final two quarters of the fiscal year, with the next tax bills set to go out by December 31 or once the state Department of Revenue certifies the rates.

Deputy Assessor Karen Zukauskas told selectmen that the average single-family assessment is now $451,042, which is down $14,000 from last year.

The total value of all residential properties is $2.971 billion, which decreased by $109,169,585. Residential properties account for 76.5 percent of the total value of the town, while commercial properties account for 23.5 percent — an increase from 22.5 percent last year.

Zukauskas said the Department of Revenue felt property values were too high for all communities and changed its methodology for determining land value, resulting in a decrease in value for all properties.

The property value decrease also hit the average condominium assessment, which is $216,277, down $12,000 from last year. Zukauskas, however, said the average condo tax bill will decrease $35 from last year.

Regarding the Community Preservation Act tax, Zukauskas said the first $100,000 will be exempted and the balance of the property value will be taxed at 1 percent. The average Canton taxpayer will pay an extra $12.87, which will be a separate line item added to the tax bill.

Selectmen held a special meeting Friday afternoon at the request of Murgia so the rates could be sent to the state for approval as soon as possible and so that new tax bills could be sent out in time for the final two quarters. Estimated tax bills were sent out for the first two quarters of the fiscal year. Murgia said if selectmen waited until their next meeting on December 3, the tax bill process might have been delayed beyond the new calendar year.

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Posted by Mike Berger on Nov 27 2013. Filed under News, Town Government. Both comments and pings are currently closed.