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 Board of Selectmen held the annual tax classification hearing on Tuesday after being delayed twice due to incomplete paperwork. The board unanimously voted to maintain a single tax rate for the town, estimated to be $19.10 per $1,000 of assessed value, a $1.18 decrease from FY2021.
The Select Board at Wednesday night's tax classification hearing voted to maintain the town's single tax rate for all types of properties, which means an estimated rate of $16.48 per $1,000 in assessed value.
This was a hard sell for Ward 2 Councilor Kevin Morandi and Ward 4 Councilor Chris Connell, who asked that the council doesn't approve the rates. Ward 5 Councilor Patrick Kavey also voiced concern for his constituents being priced out of their homes.
The board on Wednesday voted for a shift of 20 percent more to the commercial side. This sets the residential rate at $21.03 per $1,000 evaluation, down 23 cents from last year, and commercial rate at $26.34, up $1.10.
That is because property valuations rose enough in calendar year 2020 to allow the town to raise the increased money it needs for fiscal year 2022 without raising the tax rate, principal assessor Chris Lamarre told elected officials on Monday night.