Posted by Kathy McCabe November 30, 2011 10:02 AM
The average homeowner's bill will increase by 2.8 percent, or by $137.99. The average commercial/industrial property tax bill will increase 2.9 percent, or by $262.58.
The estimates are based on a new tax rate set by the Melrose Board of Aldermen last week. The new residential tax rate is $12.76 per $1,000 valuation, and the commercial/industrial rate is $19.48 per $1,000 valuation, according to the assessor's office.
The rates have been submitted for approval to the state Department of Revenue. Once approved, the new rates will be reflected on tax bills issued in January and April, Dragt said.
"Nobody likes to see bills go up," Dragt said. "The dollar amount is high, but the percentage increase itself is the lowest its been in years."
The percentage increase is lower, in part, because the city did not take on as much new debt for capital projects, such as construction of the new middle school, as in past years, Dragt explained.
“We didn’t have a whole lot of [costs] we had to offset,” he said.
The average tax bill on a single-family home, valued at $399,168, should total $5,093.38. The average tax bill on a commercial/industrial property valued at $476,629, should total $9,284.73, according to data from the assessor's office.
Kathy McCabe can be reached at email@example.com.