The 2013 tax rate has been approved by the Massachusetts Department of Revenue at $14.70 for residential and $22.54 for commercial and industrial properties. The rates are based on a net levy of $64,964,377 an increase of $1,434,041 over the 2012 tax levy. The net levy includes an annual 2.5 % in the amount of $1,512,834 new construction growth of $427,749 and prior voter approved debt exclusions are $2,533,075.
Preliminary bills are generally one half of the prior year's bill plus 2.5% including any abatements, exemptions or betterments. This amount is split between the amount due in August and November.
The third and fourth quarter bills are determined after final assessments and the tax rate have been approved by the Department of Revenue. The total bill is then calculated for the year and any prior payments (preliminary bills) are deducted and split between the third and fourth bills. The third bill will show any betterments or water and sewer liens and is known as the “actual bill”.
When calculating total taxes do not multiply the individual bills by four, quarterly amounts billed are never equal.
IMPORTANT TAX INFORMATION- PLEASE REMEMBER THAT THE TAX COLLECTOR HAS REDUCED THE TAX BILL MAILINGS FROM FOUR TO TWO. THE BILL DUE AUGUST 1 WILL ALSO CONTAIN THE BILL DUE NOVEMBER 1. THE NEXT BILL MAILING WILL BE AT THE END OF DECEMBER WITH A BILL DUE FEBRUARY 1, 2013 AND A BILL DUE MAY 1, 2013. ANY QUESTIONS PLEASE CALL 617-898-4853.