Woburn's Average Residential Tax Bill To Increase $157 For FY2020

WOBURN, MA — Woburn's residential tax rate for the current fiscal year will be $9.32 mills, after city council selected a 175 percent tax shift at their Tuesday meeting. Mayor Scott Galvin signed the tax classification Thursday. With the 175 percent shift, commercial property tax owners will be 175 percent of what they would if there were a single universal rate, while residential owners will pay just over 70 percent.

That shift means commercial property owners will pay $23.20. If there were a single rate, both residential and commercial owners would pay $13.26. The city has consistently used the 175% shift in recent years.

The total assessed value of Woburn property was $8.524 billion as of Jan. 1, 2019, a seven percent increase over $7.938 billion the previous year. According to town assessors, all types of property increased in value. The average single family home was worth just over $500,000, a $25,000 increase over last year. With the $9.32 mill tax, the average home bill will be $4,677, a $157 increase.

Christopher Huffaker can be reached at 412-265-8353 or chris.huffaker@patch.com.