Hudson sets new tax rates for FY22

1129

Hudson town iconHUDSON – Property tax rates for Hudson residential and commercial owners will drop in the coming fiscal year following a vote by the Select Board at its tax classification hearing earlier this month. 

Despite the decrease, residential owners will see an increase in overall tax bills next year because property values have gone up, Board of Assessors Chair Brian Bowen told the Select Board on Dec. 6.  

“It is important to note that, though tax rates are going down, the [property] value has increased,” Bowen said. “It doesn’t necessarily equate to a lower tax bill.”

An average single family home that was valued at $405,820 last year is now valued at $439,328 this year as part of an 8.25 percent increase in property value. That means that, while the residential tax rate will shrink from $16.59 per $1,000 this year to $15.86 next year, the higher property value will translate to an additional $235 on the average single family homeowners’ bill.

The tax rate for commercial and industrial property owners is set relative to the rate chosen for residential properties. Next year, commercial property owners will be taxed at the rate of $31.60, a drop from the current rate of $33.16. Like single-family homes, the market value of Hudson’s commercial and industrial properties has gone up, with growth just over five percent in the last year.

The board had the option of switching to a single tax rate from its current split tax rate. It ultimately opted to remain at the split rate, though. 



 

“I feel for our commercial and industrial part, but the residents are really important at this point in time,” Select Board Chair Scott Duplisea said. “Additionally, the single tax rate is just not going to cut it for what we need to do.”

Had the Select Board chosen the single tax rate, all properties – commercial and residential – would have been taxed at a flat $18.06 rate. 

“When Mr. Duplisea said he feels for the residents and the commercial property owners, let’s not forget there are an awful lot of residents who own commercial property in Hudson,” Select Board member Jim Quinn said. “They are going to get hit either way. That’s who I feel for.”

The Board of Assessors was waiting to get sanction for the chosen tax rates from the Department of Revenue as of Dec. 6

“We expect to hear back any time now,” assessor Joanne F. McIntyre said. If the rates pass as voted on, Hudson expects an excess levy capacity of approximately $1,083,400, McIntyre said.

RELATED CONTENT

Marlborough sets 2022 tax rates

Westborough sets new tax rate for FY22

Southborough adopts single tax rate of $16.28

No posts to display