Somerville's property tax rates are up slightly. From December 2007: "Under the new rates, the average owner-occupied two-family home will see an annual tax increase of $47 or 1.2 percent; the average one-family home will see an annual increase of $55 or 1.9 percent; and the average condominium tax bill will increase annually by only $9 or 0.5 percent. The new residential tax rate will be $10.95 per $1,000 of assessed valuation. By contrast, the average sale price of a two-family home in Somerville has declined by 5 percent in the past year; three-family home sale prices are down by an average of 2.9 percent. 'It’s a seesaw,' said Brescia after the Board meeting. 'To keep revenues stable, you lower tax rates when property values rise and you raise rates when values go down. The bottom line for homeowners is that bills will increase this year at a rate far below the rate of inflation.'"
My residential property insurance tax bill is almost exactly the same as year.
Water is definitely more expensive, and the Water Dept. is billing every 120 days instead of every 90, so each bill feels even bigger because it covers more time. I've asked for a breakdown in the growth of water/sewer charges over the past two years and I'll post when I have it.
no subject
"Under the new rates, the average owner-occupied two-family home will see an annual tax increase of $47 or 1.2 percent; the average one-family home will see an annual increase of $55 or 1.9 percent; and the average condominium tax bill will increase annually by only $9 or 0.5 percent. The new residential tax rate will be $10.95 per $1,000 of assessed valuation. By contrast, the average sale price of a two-family home in Somerville has declined by 5 percent in the past year; three-family home sale prices are down by an average of 2.9 percent. 'It’s a seesaw,' said Brescia after the Board meeting. 'To keep revenues stable, you lower tax rates when property values rise and you raise rates when values go down. The bottom line for homeowners is that bills will increase this year at a rate far below the rate of inflation.'"
My residential property insurance tax bill is almost exactly the same as year.
Water is definitely more expensive, and the Water Dept. is billing every 120 days instead of every 90, so each bill feels even bigger because it covers more time. I've asked for a breakdown in the growth of water/sewer charges over the past two years and I'll post when I have it.