| By George P. Hassett
Aldermen
last night approved a recommendation from city assessors to increase
the residential tax rate by 7 percent to $11.71. The commercial tax
rate was also increased by 7 percent to $19.26.
The average
condominium owner's tax bill will rise from $488 to $508, a 4.1%
increase. The tax bills for single-family, two-family and three-family
homes all increased by less than 1 percent.
The year's tax
assessment reflected the grim reality of the economic downturn.
Foreclosures increased from 10 in 2006 to 51 in 2008. Ward 2 Alderman
Maryann Heuston, however, said although the economic situation in
Somerville isn't ideal, it is not as bad as in other communities.
Across the city, property values are down 2 percent, the assessors said.
"I
don't think I have seen a drop of this magnitude in home values since I
joined the Board of Aldermen in 1998," said Alderman-at-Large Bill
White.
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