Despite the pain of raising taxes, a majority of the City Council members agreed that it is their responsibility to approve 2024 tax classification so that the city doesn't fall behind.
Ward 1 Councilor Kenneth Warren, Ward 2 Councilor Charles Kronick and at-Large Councilor Karen Kalinowsky spoke against the proposal that would increase the average homeowner's bill by 8.75 percent.
The average residential property tax bill will go up by $103.85 for fiscal year 2024 under a tax distribution plan OK'd by the City Council on Tuesday.
Mayor Linda Tyer and the Board of Assessors have put forward a residential rate of $18.45 per $1,000 of valuation and a commercial, industrial, and personal property rate of $39.61.
The rate accepted Wednesday morning at the tax classification hearing represents a five-cent increase over the last rate of 91 cents. Increased assessed values in town largely drove this rate.
Two of the board members, Andrew Hogeland and Jane Patton, argued that the RTE is too blunt an instrument and advocated for more targeted tax relief mechanisms.
Select Board member Stephanie Boyd has been advocating that the town consider adopting the commonwealth's residential tax exemption as a way to shift some of the tax levy away from owners of lower-priced homes and toward owners of higher-end properties.
Following up on a request he made at the committee's July meeting, Chief Craig Pedercini asked the panel's permission to increase the fee for inspecting a residential property at the time of sale and institute fees for the business inspections the department conducts on an annual basis.
The value of an average single-family home increased to $300,705, up by $39,405 compared to the average value last year. The total town value grew 14.6 percent to $508,755,124, an increase of just over $55 million from last year.
The councilors, however, described the jump from last year's 1.68 to the max shift as "whiplash," especially after spending years trying to gradually shift toward residential to find some equity between the rates.
The residential tax rate will drop by $1.95 but the average tax bill for homeowners is expected to increase by $93.86 because of higher property valuations. 21.03
The average property owner will see a 4.4 percent rise in their property tax in the current fiscal year according to numbers presented by Town Assessor Chris Lamarre.