Selectmen Approve New Property Tax Rates

The tax rate will remain split and homeowners will be paying more in taxes next year.

The selectmen voted on Tuesday 5-0 to approve the new tax rate for fiscal year 2015 as recommended 3-0 by the Board of Assessors.

Under the new rate, the average single family tax bills, including condominiums, will increase by 3.33 percent, to $180 to $5,576.

The average commercial tax will increase by 3.77%, or $968 to $27,166. The average industrial tax bill will increase by 1.62 percent, or $172 to $10,867

Per $1,000 of assessed value, residents will pay $15.19 and businesses will pay $17.25 while commercial and industrial will pay $17.35. The split for taxes has residents responsible for 73.06 percent of the town’s taxes while commercial and industrial properties will account for 26.94 percent.

According to Finance Director Randy Scollins, returning to a single tax rate would have meant an additional tax burden of $1.13 million for local homeowners.

“I think you would have to see the values of the businesses increases significantly over the value of the residential properties,” Scollins said of the possibility of switching to a single tax rate.

Foxborough’s tax levy will remain at the limit allowed by proposition 2 ½ for an 18th year, increasing by $1.7 million or 4.47 percent.