By David Fassler, Community Reporter
Hudson – The Board of Selectmen approved a measure during its Dec. 5 meeting to raise both residential and commercial taxes. Residential taxes for fiscal year 2012 will increase from $14.16 to $15.51 per $1,000 assessed property value, while the commercial and industrial rate will increase from $26.19 to $29.55 per $1,000.
According to town officials, the value of the average single family home declined more than $8,100 from $297,302 to $289,145, a 2.74 percent decrease from 2010. Total value of residential property decreased 3.3 percent while the commercial and industrial property decreased by almost 12 percent.
Selectman Chris Yates noted, “I believe I's the only member on the board who owns both commercial and residential property in town. I see both ends, from the business standpoint, the taxes increase at a greater rate and do not get passed along. I think it's important from a business standpoint to try to keep the commercial and industrial property tax rate under $30.”
“No matter what percentage is voted on tonight, taxes are going up,” he added. “The average commercial tax bill is still increasing four times that of the residential tax bill.”
Don Garcia, chair of the Hudson Economic Development Commission, said, “If you can keep the number below $30, the rate isn's something anybody in [commercial industrial property] is going to be excited about, but it is less than what could be the rate. From perception, it is not quite as high as it could be and not as low as it could be.”
Several other business owners spoke on the matter.
Chuck Randall, who owns several buildings in town said, “My tenants are almost exclusively small office and business rentals. If you take a building such as 21 Main St., that building at the new rate would have an increase in real estate tax of $2,100. That tax rate I can tell you is not being absorbed by one single tenant.
Tom Davis, a property manager, said, “I's seeing just about the highest residential rents we'se ever had in Hudson. If you put something up for rent you'se going to get just about as much as you can get. On the other hand, on the commercial and industrial property side, you have to go back to the 1970s to find rents as low as they are now.”
