Rising Wilmington Property Values Mean 3.7% Property Tax Hike

WILMINGTON, MA --Wilmington selectmen unanimously approved a tax plan that will increase residential property taxes by 3.7%. The tax hike means the average Wilmington resident will see their property tax go to $6,335.69 next year, up $210.55 from $6,125.14 this year. The tax package approved by selectmen Monday night shifts the biggest burden to commercial property holders to minimize the impact on homeowners.

The Wilmington Apple, which first reported this story, noted it was the lowest residential property tax increase since 2012. While residential property makes up nearly 77% of the town's tax base, the town will only collect 59.9% of its property tax revenue from residential properties, with the remaining 40.1% coming from commercial properties.

The averages tax bill Assessor Karen Rassias used to illustrate the tax increase to selectmen is based on the average assessed value of a single-family home in Wilmington, which is $439,673, up from $423,885 last year. So while the property tax is actually decreasing to $14.41 from $14.45, the higher tax rate comes from increased property values.

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Patch file photo.

Dave Copeland can be reached at dave.copeland@patch.com or by calling 617-433-7851. Follow him on Twitter (@CopeWrites) and Facebook (/copewrites).