WILMINGTON, MA – The average single family annual tax bill in town is set to increase by $144.06, from $6,878.07 to $7,017.07, representing the smallest increase since 2012.
The town’s residential tax rate will be rising from 13.58 to 13.84.
The average single family home value in Wilmington increased by approximately 0.17% in one year, inching up from $506,113 to $507,014.
As it does each year, the Board of Selectmen unanimously voted to approve a maximum tax classification shift of 1.75% per the recommendation of Rassias and the Wilmington Board of Assessors.
“This is the most favorable scenario for the residential taxpayer,” explained Rassias.
As a result of the shift, homeowners will only be responsible for 59.02% of the tax levy despite the fact that residential properties make up 76.58% of the town’s value. Without any shift, the residential tax rate would increase to $17.96 and the average tax bill would rise by $2,232.96.
“Particularly this year, this vote is extremely important given what’s going on with the pandemic,” said Selectman Greg Bendel. “Any relief we can give to the residents, I think we should be doing it.”
In comparing Wilmington’s residential taxes to all the other communities in Middlesex and Essex counties, Rassias pointed out that Wilmington has the 48th lowest (“best”) ranking, out of 77 cities and towns.
No residents spoke during the public hearing.
The average commercial/industrial tax bill will see an increase of $3,935.83, while the tax rate increases from 30.61 to 31.43.
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