Milford Tax Rates To Drop In 2022, But Values May Boost Bills

MILFORD, MA — Milford property owners will see lower tax rates in 2022, but rising property values may mean bills could still rise.

The Milford Select Board on Monday set the 2022 tax rates, again electing to split the rate between residential and commercial property owners — a common maneuver in Massachusetts that shifts the tax burden onto commercial owners.

In 2022, tax rates will be $15.39 per $1,000 for residential owners and $28.44 per $1,000 for commercial owners. In 2021, those rates were $15.98 and $29.69, respectively.

Without the split tax rate, all property owners would've been assessed at a rate of $18 per $1,000 of value.

Property values increased across all categories in Milford over the past year, from single-family homes to industrial properties. The average single family value rose more than 8 percent to about $377,100 from $348,700 in 2021. An annual tax bill at the 2022 rate for a home of that value would be about $5,803. In 2021, the bill for a single-family home of average value was about $5,572.

The properties with the biggest value increase over 2021 were two and three-family homes, which rose in value by 11.5 and 11.9 percent. Owners of those types of properties could see bills rise between $384 and $455 in 2022 depending on the total value of the home.

In 2022, Milford will raise about $74.6 million through property taxes to pay for town and school services. The town's levy limit, however, is more than $79 million, which means Milford has about $4.6 million of excess levy capacity.