Swampscott Homeowners Can Expect A Tax Break Next Year

SWAMPSCOTT, MA - Residential real estate taxes will go down next year for the first time in 23 years, according to ItemLive.

After the Board of Selectmen set the residential tax rate at $16 per $1,000 home value assessment, the average single-family tax bill is expected decrease by $153 in 2018.

The average single-family tax bill was $9,048 in 2016, $9,225 in 2017 and will be $9,073 next year. In 1994, the last time there was a reduction, residential taxes decreased by an average of about $25.

The 2018 average single-family home estimated assessed value is $567,087, which is $38,417 higher than last year’s average assessed value of $528,670.

Selectman Peter Spellios said approximately 74 percent of the town’s 5,288 residential parcels will see a reduction in their real estate tax bill.

To read the full story, head over to Item Live.

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