By Melanie Petrucci, Contributing Writer
Westborough – The Board of Selectmen unanimously approved a single tax rate for FY 2017 at their Nov. 29 meeting. Chief Assessor Jonathan Steinberg presented town fiscal information and options to the board which included historical information, levy limits, average single family value and tax rates, new growth and total town value for 2016 and 2017.
Historically, Westborough has maintained a single tax rate and Steinberg advocated keeping this structure. The tax levy limit for 2016 was $73,322,434 and it is anticipated that fiscal 2017 should be $77,632,120. Taking into account proposition 2 1/2, new growth and debt exclusion, the average property owner will have a $17.80/thousand tax rate which is an increase of $.03.
Westborough’s single family value is $471,000 which reflects a $6,000 increase. The average commercial/industrial property valuation is $2,255,113 which reflects an increase of $20,213. The average single family tax rate will be $8,383.80 which includes an increase of $120.75 while the average commercial/industrial rate will be $40,141.01 with an increase of $426.84.
The total property valuation of Westborough for FY2017 is $3,807,767,958 which is up by $13,060,486 from FY2016.
Selectman Denny Drewry made the motion to maintain the single tax rate for FY2017; it was easily seconded and approved.
Board Chair Ian Johnson stated, “From a business community and economic development committee standpoint and in fairness to the business community the single tax rate is something I strongly endorse.”