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