Brian MacDonald, Director of the Board of Assessors spoke before the Board of Selectmen on Tuesday, November 19, presenting the tax rate for Stoneham for the fiscal year ‘14.
MacDonald presented three items for the Board to vote on. The first was the selection of the minimum residential factor, which established the actual tax rate for residents and the commercial, industrial rate.
The total values, which are derived from property sales from 2012, break down as follows:
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Total value of community: $2,644,809,073
Commercial: $274,226,315
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Industrial: $22,513,300
Personal: $48,125,639.
Total: $2,989,674,327.
Tax levy=$43,265,509
Average single family=$392,691
Average commercial =$943,243
“Historically, as supported by the Board of Assessors, they have voted in support of the maximum shift, from $161 in 2008 to $158, which would decrease residential property taxes,” MacDonald said. “The Assessors recommend a residential factor which would reduce the residential tax of $13.49 and a commercial taxes of $24.99. Average single family property tax code would be $52.97 and the average commercial and industrial property tax code would be $20,746.”
The Board of Selectmen voted in favor of this recommendation.
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