WILMINGTON, MA — After the latest Board of Selectmen meeting, Wilmington residents now have a better understanding of how much property taxes will be increasing.
The Bad News
After a vote on the town’s budget at Annual Town Meeting in May, coupled with a vote by the Board of Selectmen at its laster meeting meeting, the average Wilmington single family tax bill will increase by $366.14.
Last fiscal year, the average Wilmington single family tax bill was $5,759.97. This year, the town’s Principal Assessor Karen Rassias reports that number to be $6,125.14. This $366.14 difference represents a 6.34% increase.
Click HERE to see the average property tax increases in Wilmington each year since 2000.
The Good News
The tax increase could have been much worse! Under Massachusetts General Law, each year the Wilmington Board of Selectmen must determine the percentages of the town’s tax levy that will be paid by each class of real and personal property.
As in years past, Selectmen unanimously voted to shift the maximum allowable (175%) to Commercial, Industrial and Personal Property class, leaving the Residential class to feel the least amount of tax burden.
With no shift, residential property tax owners would have had to make up 77.2523% of the tax levy. With the approved shift, residential tax property owners only make up 60.1915%. The remaining 39.8085% of the tax levy will comprise of commercial, industrial and personal property taxpayers.
Assessor Karen Rassias was also quick to point out that the average single family residential property value in Wilmington increased by approximately 7.6% over the past year. In FY16, the average single family home was assessed at $393,643. In FY17, the assessed value has jumped to $423,885.
The residential tax rate DECREASED from 14.63 to 14.45 from FY16 to FY17, but taxes are slated to increase due to this increase in property value.
“I believe we get a good bang for our buck in this community,” said Selectman Mike McCoy. “We don’t have user fees, trash fees, or bus fees. A lot of communities have to pay those fees, above and beyond their taxes.”
“Wilmington, overall, is doing very well in the housing market,” noted Selectwoman Judy O’Connell. “Construction is up. Inventory is relatively low. People are moving here and they’re staying.”
“We’re a very desirable place to live and raise a family, but we’re also a very desirable place to establish and run a business,” added Selectman Mike Champoux. “[Businesses] come here and stay here knowing they’re baring a little bit more of the burden, but they do so knowing they have access to our workforce, our population and our access to Route 93.” Champoux emphasized the town’s healthy commercial growth, nothing that much of it is happening at the outskirts of town.
No resident or taxpayer chose to speak during the Public Hearing.
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