Taxes are going up this year, but not by as much as they have in the previous two years. Earlier this month, the Board of Selectmen approved a tax rate of $16.54. The Metrowest Daily News explains what that means to the average homeowner:
For fiscal 2013, the tax bill on the average home valued at $518,300 would be $8,573, a $238 — or 2.86 percent — increase from fiscal 2012. That figure excludes the 1 percent surcharge for the Community Preservation Act, Assessor Paul Cibelli said.
The percentage increase is the lowest in three years, as taxes rose by 4.94 percent in fiscal 2012 and 2.98 percent in fiscal 2011. In fiscal 2010, taxes went down by 2.11 percent.
In terms of new value, the assessors said the town added $27.14 million in new growth in fiscal 2013. That will equate to $438,066 in new tax dollars, down from a $461,385 in fiscal 2012.
The town will also continue its tradition of having a single tax rate for both residences and bsuinesses. You can read more in this article by the MWDN, or check out the 2013 Tax Classification report prepared by the Southborough Board of Assessors.