Property taxes will increase by $344 a year on most median priced single family homes in Brookline after selectmen set the new tax rate Tuesday.
The board voted 4-1 to increase the residential tax rate from $10.97 to $11.30 per $1,000 of assessed value.
The median single family home in Brookline is valued at $1,027,300 and the rate hike would increase taxes by $395 for those homes. But after factoring in a residential exemption that more than 80 percent of single-family homeowners qualify for in Brookline, the tax increase for the median home will be $344.
Taxes will increase by $100 on the median priced condominium that qualifies for the residential exemption. The median valued condominium in Brookline is $423,900, and a strong majority of Brookline residents live in condominiums or single-family homes.
Taxes will also increase by $602 for the median valued commercial property.
Selectmen Nancy Daly, who cast the lone vote against the tax rate approved by the board, had suggested a slightly higher tax rate be set for residential properties and a slightly lower rate for commercial properties because she said a number of businesses in the town have expressed to her that times have been hard.