Select Board Sets FY 21 Tax Rate at $17.85
The Select Board continued the annual Tax Classification Public Hearing at 6:30 pm on Tuesday, December 8, 2020.
Board of Assessors Chair, Lesley Kennally (below) thanked and introduced Holliston’s Principal Assessor Kathryn Peirce to present the Assessors recommendations.
Ms. Peirce shared extensive data regarding property, residential, and commercial / industrial taxable entities in Town (did you know there are 6,051?).
The graphic below says it all. The Town’s expenses are $51,063,020 and the total value of those 6,051 properties is almost $3 Billion. The tax rate is derived by dividing the total expense by the total value.
To provide some context, below are the last 10 years of Holliston’s tax rate.
- FY21 $ 17.85
- FY20 $ 18.85
- FY19 $ 18.83
- FY18 $ 18.67
- FY17 $ 18.52
- FY16 $ 18.79
- FY15 $ 19.38
- FY14 $ 19.88
- FY13 $ 18.62
- FY12 $ 18.32
- FY11 $ 17.94
Real estate sales drive the assessed values. Below are some data from 2019 that drove the FY 21 tax numbers.
Following Ms. Peirce’s presentation, the Board asked some questions that were fielded by Peirce, and Assessors Kennally and Barbieri. It is important to remember while the tax rate went down, housing values went up which MAY not result in a lower tax bill.
The Board voted to approve the FY 21 tax rate of $17.85.
The Board went on to disapprove the following:
- The open space exemption
- The shift of tax rate to commercial / industrial
- The residential exemption (not personal exemptions that some citizens qualify for)
- The small commercial exemption
The Board approved the Excess Levy Capacity of $555, 979 (“unused levy capacity” meaning that the Tax Levy is lower than the Levy Limit which is set by Proposition 2 ½)
The Board closed the Public Hearing at 7:16 pm and the meeting was adjourned at 7:17pm.