Thanks to lower property assessments and a lower tax rate, the average family in Southborough will pay 2.1% less in property taxes this year compared to last. If you want to figure out what your 2010 tax bill will be, here’s how to do it.
First, you need to know what your house is assessed for. You’ll find assessments for fiscal year 2010 here (pdf). Once you know your assessment, here’s the formula to use based on the 2010 tax rate of $14.06:
Annual property tax = (Assessed Value)/1000 * $14.06
So, a house assessed at $548,600 — which is the average this year for a single family home in Southborough — would pay $7713 annually ($548,600/$1,000 * $14.06).
Now might be a good time to mention that some Southborough residents, including seniors and veterans, may qualify for property tax assistance programs. You can read more about those programs here.
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