Belmont RE Tax Rate Falls But Tax Bills Won't
Increase of four percent in housing values will offset two cent drop in tax rate, leaving Belmont residents will one of the top property tax bills in the state, US.
The good news: the Belmont Board of Assessors has chopped off two cents from last year's property tax rate. The bad news: the valuation for that house your living in has in all likelihood gone up so that the next quarterly bill coming out Jan. 1 will be heading skyward. That's the conclusion for nearly all Belmont property owners as the Belmont Board of Selectmen essentially approved the new tax rate for the town at its Monday meeting, Dec. 17. The drop from $13.35 to $13.33 per $1,000 in assessed value of the property is due in large part of a four percent increase in all properties in Belmont and a decrease in the town's tax levy capacity, said Robert Reardon, chairman of the Assessors. The end result is that Belmont taxpayers will …
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