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November 21, 2012

Taxes on Danvers homes to rise 2.9%

DANVERS — Despite Selectman Keith Lucy’s contention that it would be better to shift more of the tax burden onto commercial and industrial properties this year because their new growth outpaced that of residences, three selectmen decided during a classification hearing last night to leave well enough alone.

By a vote of 3-2, with Lucy and Selectman Dan Bennett dissenting, the board set the town’s tax factor at 1.26, the same number as last year, resulting in an estimated tax rate of $14.54 per $1,000 of assessed value for single-family homes, condominiums and residential properties, Chief Assessor Marlene Locke said.

Under classification, the tax factor serves to shift the tax burden onto commercial and industrial properties, so these taxpayers will see an estimated tax rate of $20.23 per $1,000 of assessed value.

Assessors met after selectmen did in Town Hall to set the tax rate, which then must be certified by the state Department of Revenue.

Owners of typical Danvers single-family homes valued at $344,800 will see their tax bills rise an estimated $141, and a tax bill of $5,017 this fiscal year. That works out to a nearly 2.9 percent increase. Typical single-family homes in town dropped in value by 1.5 percent from last year during a revaluation of all properties that assessors do every three years.

For the owners of the typical condominium, taxes will go up by less than 1 percent, or $19, with a tax bill of $3,084. The typical condo in town dropped in value by 3.6 percent from last year to $212,000.

Business owners with a typical commercial and industrial property of $1.267 million will see a tax hike of nearly 1.8 percent, with a total bill of $25,642. The typical commercial property fell in value by 2.5 percent.

During the classification hearing, selectmen decide how much of the tax burden should be borne by residential properties and how much should be shifted onto commercial, industrial and personal properties.

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