Politics & Government
Woburn Cuts Property Tax Rates
Despite the cut, residents will likely see increases as property values continue to rise.
WOBURN, MA -- The Massachusetts Department of Revenue approved Woburn's tax rate for 2018. The residential property tax rate will be $9.89 per $1,000 of assessed value, down from $9.94 in Fiscal 2017, while the commercial rate will be $24.95 per $1,000 of assessed value, down from $24.97 last year.
But rising property values may mean taxpayers will still see an increase. The median home price for all properties is currently $440,000, up from $400,000 a year ago. That means the average-priced home would pay $4,351.60 in property taxes based on its current value, up from $3,976 a year ago.
It was the fourth straight year Woburn has lowered the property tax rate. Third quarter tax bills are set to be mailed during the last week of December. For more information, see the notice on the city's Website.
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Dave Copeland can be reached at dave.copeland@patch.com or by calling 617-433-7851. Follow him on Twitter (@CopeWrites) and Facebook (/copewrites).
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