THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING
< Back to front page Text size +

Property taxes in Danvers expected to rise in Fiscal Year 2013

Posted by Ryan Mooney  November 21, 2012 01:06 PM

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

The Danvers Board of Selectmen voted Tuesday night to keep the town's tax factor at this year's rate of 1.26 for Fiscal Year 2013, which will result in about a $141 total increase in property taxes for the owner of an average single-family home in Danvers, according to numbers provided by Marlene Locke, the town's chief assessor.

The vote passed, 3-2, with selectmen Keith Lucy and Dan Bennett dissenting. The tax rate must now be certified by the Massachusetts Department of Revenue.

According to Locke, single-family homeowners can expect to pay $14.55 per $1,000 of valuation in FY13, compared to the current rate of $13.93. Currently the average value of a home in Danvers is $344,800.

The current average condominium value in Danvers is $212,000, and the new rate will result in about $20 more in property taxes paid over the course of the year by the owner of the typical condo.

Commercial and industrial tax rates will rise from $19.38 per $1,000 of valuation, to about $20.23, according to Locke's calculations.

The board also voted unanimously not to adopt an open-space exemption, residential exemption, or small community businesses exemption.

Town Manager Wayne Marquis explained that the town has no land that falls under the category of open space, so voting that into place at this time would essentially be moot.

The residential exemption would have allowed selectmen to grant an exemption of up to 20 percent of the average value of a home in Danvers to essentially transfer the tax burden from homes that are valued at less than the average to homes valued at more than the average, according to Marquis.

The small business exemption works similarly, taking some of the burden off of small commercial property owners.

Marquis called the small business exemption a "cumbersome statute," and said that only about a dozen communities in Massachusetts have adopted it.

Average property values in Danvers have dropped across the board from last year. The value of an average home in Danvers dropped 1.5 percent (from $350,000 in 2012), and the average value of a condo dropped 3.6 percent (from $220,000 last year).

The average value of commercial properties dropped 2.5 percent, from $1.3 million last year to just under $1.27 million this year.

Ryan Mooney can be reached at globe.mooney@yahoo.com. Follow him on Twitter @mooney_ryan.

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article