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Average Hamilton Tax Bill to Drop Slightly

The tax rate will drop, and the average tax bill will drop slightly, this year in Hamilton.

The average property tax bill in Hamilton is expected to drop slightly this year.

That’s based on the total tax levy and the total assessed value of the property in the town, after last week’s tax classification hearing by the Hamilton Board of Selectmen at Hamilton Town Hall.

The fiscal 2013 tax rate was set at $17.25 per $1,000 of property value.

Based on that rate, the average annual tax bill for a single family home will go down by an average of $46.

“That’s good news, very good news,” said Selectman Jeff Hubbard.

The board also decided to set the same rate for residential property and for commercial property. Hamilton has 4 percent of its property as commercial, while towns are recommended to not consider a so-called tax shift unless at least 11 percent in commercial and industrial, according to Assessor Tina Zelano.

The tax rate had dropped from the fiscal 2012 rate of $17.40. But more important than the rate is the average tax bill, since property assessment also factor into the calculation of the total tax bill.

The new tax rate is for fiscal 2013, which began on July 1. The new rate and assessments will show up on the third quarter tax bills.

The total value of property in Hamilton went up by .01 percent to $1,291,952,004. The total tax levy dropped by .6 percent, from $22,373,962 to $22,234,494.

Fiscal year Tax rate 2010 $16.29 2011 $17.19 2012 $17.40 2013 $17.21

 

Lynnette Fallon November 28, 2012 at 01:13 AM
Thanks for doing this piece on the tax rate. It is important for residents to understand the rate and the factors that have driven it up, even in the last two years of decreased contributions to the schools. I note that you report an FY 2013 tax rate of both $17.21 and $17.25; which is it?
Ron Powell November 28, 2012 at 04:22 AM
Hi Lynnette. It's 17.21 percent, not 17.25. The property tax rate is the total tax levy divided by the total assessed value of property, multiplied by 100%.
Michelle Bailey November 28, 2012 at 06:43 AM
Then the chart has the wrong number, because it says $17.21. Anyone know the tax rate in Wenham?
Ron Powell November 28, 2012 at 03:19 PM
I think that the chart is right with $17.21, and the body of the article got it wrong. I wrote 17.21 percent, but I should have written $17.21. Sorry for the confusion.
Parson Weems November 28, 2012 at 03:36 PM
Hubbard has some nerve praising the paltry $46 in savings when he threw away $18K in public money on that downtown beautfication boondoggle. Will he be back for more funds this year to toss at his corporate cronies? Stay tuned
Ron Powell November 28, 2012 at 04:11 PM
I would also be curious to know the effect that new growth and the newly approved capital debt exclusions (Cutler and Buker roof repairs) had on the total tax levy. (Tax levy is a function of the provisions of Prop 2½ plus new growth and debt exclusions.)

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