Taxes going up

Dec 6, 2018 by

Published December 7, 2018

MELROSE — With action taken this week by the aldermen, the average single family homeowner’s property tax bill will rise about $176.

On Monday, the board approved a so-called minimum residential factor that will make the residential tax rate about $10.81 per $1,000 of value for fiscal year 2019. The commercial property rate will be $18.82, increasing the average commercial property’s tax bill about $71. 

The tax rate can change slightly during the final approval process of the state Department of Revenue. 

According to information supplied by the Assessor’s Office, the average single family home in Melrose is valued at $580,265. With the action taken this week, the owner of such a home will be paying $6,273 in property taxes for the next year.

The average commercial property in the city is valued at $730,322. The tax bill for such a property will be $13,745.

Related Posts

Tags

Share This