Watertown's Residential Property Tax Rate Will Rise 4.25 Percent in 2012
The Town Council approved the same rate for owner-occupied and rental properties.
After three straight years of tax increases of just over 2 percent, Watertown's residential property tax rates will rise 4.25 percent in Fiscal 2012. The new rate means the bill on the average home, assessed at $410,554, would be $4,730, or a rate of $14.40 per $1,000 of assessed value, said Francis Golden, the chairman of the Board of Assessors. The Commercial rate will rise 0.77 percent to $26.64 per $1,000 of assessed value, Golden said. The Town Council voted to approve the rate Tuesday night, which includes a 175 percent shift of the tax burden from residents to commercial, industrial and personal property taxes along with a 20 percent exemption for owner-occupied properties. The town can give even greater exemptions to owner-occupied…
Sonny Beaches
4:11 pm on Tuesday, November 29, 2011
Is Golden smoking something or is he just stupid? "commercial property assessed values have dropped about $8.5 million due to the global economic downturn". Yeah right, Watertown is impacted by the global downturn. He must be getting paid under the table by the commercial property owners to lower their taxes. more ›