Average Braintree Residential Property Tax Bill Increasing $414

BRAINTREE, MA — The Town Council on Tuesday unanimously approved a residential property tax rate of $9.95 per $1,000 of assessed value and a commercial/industrial rate of $21.64.

The tax rate for Braintree homeowners didn't change from last year, and the rate decreased slightly from $21.84 for commercial property owners. But most people will see an increase to their tax bill because of rising property values.

Most Braintree homeowners will see their property taxes increase by about $414. This is because the average price of a residential property in town rose almost 8 percent, from $521,835 to $563,445. Commercial and industrial property owners will also see a rise in property taxes, because the value of commercial properties increased by about 4.6 percent, Mayor Charles Kokoros said.

Also a factor in the property tax increase, was the debt exclusion Braintree voters supported last year to pay for the building a New South Middle School. Construction on the new school is slated to begin next month. About $140 of the increase stemmed from the debt exclusion.

Kokoros told the council both tax rates are low compared to nearby communities. Nearby Weymouth's residential tax rate was set last month at $11.47. With an increase in property values, tax bills for Weymouth homeowners will increase by about $357.

"Braintree is the place everyone wants to move to because of our great tax rate, our greats schools and our great community," Kokoros said. "We are a sought out community and continue to be because of all the assets we have here."

The vote to set the property tax rate was 8-0 in favor of it. Councilor David RInguis was not present for the vote.