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Chief Assessor Frank Golden recently presented a report concerning FY 2020 Tax Levy percentages to the Somerville City Council.
By Jim Clark
The city’s Chief Assessor’s Classification Hearing Report regarding the adoption of Tax Levy percentages for FY 2020, including a minimum residential factor and a residential exemption, was presented to the Somerville City Council at their special meeting held on November 26.
At the meeting, City Assessor Frank Golden presented FY20 tax classification data and recommended the adoption of tax levy percentages.
Golden stated that the recommendation of a residential factor of 87.9553 is the minimum allowable for the city for FY20. Since 2015, the 16,750 properties that make up the residential class are allowed a residential exemption of 35% of the average assessed value, pursuant to MGL c59 s5C.
Responding to a question from Councilor At-Large Wilfred N. Mbah, Golden noted that there is legislation at the State House for a 40% residential exemption, but 35% is the current maximum.
Golden reviewed parcel counts in the city. There are an additional 463 residential condominium units (198 conversions and 224 new units), 56 fewer two-families, and 10 fewer three-families. The commercial tax rate dropped $1 this year and the residential rate dropped $0.60, which he said reflects a phenomenal increase in value and encouraging projects. Golden added that next year is a revaluation year, and neighborhood boundaries and home values will be updated as needed.
As the meeting approached the one-hour mark with much of the Assessor’s presentation still to go, President Ballantyne asked Golden to conclude his remarks. She then opened the Public Hearing, but no one requested to speak on the FY20 Tax Classification, and the Public Hearing was closed.
Ballantyne then referred all items on this Special Meeting’s agenda to the Finance Committee. Finance Committee Chair William A. White Jr. said he would add the items to the agenda of the Committee’s December 3 meeting.
City Clerk John Long noted that the City Assessor’s presentation is on the City Council’s web portal, and the President directed that it be posted to the Finance Department’s webpage as well.
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Single-family homes should get the highest residential exemption, since no income is made from the home. Property taxes are bad enough as they are, and if you are struggling, it would help people be able to continue to afford living here.
For other multi-family residential homes, to make it fairer for landlords who may or may not be renting their apartments, perhaps a tax exemption can be made that is adjusted depending on whether or not a homeowner is making any income from their home. That way those who make the most income get the lowest exemption, while those who make little or no income get a higher exemption. It might also encourage landlords to lower their rents, since they would get a greater percentage exemption if they are charging less to tenants.
Encourage larger commercial properties to pay higher taxes that will lower the rate for residents. Small businesses are fine, but they likely do little to lower costs for those living here, much less for themselves. Look at how many long-time smaller businesses have left the city in the past 10 years because they couldn’t afford the rates anymore. If they can’t make it, residents can’t, either.
I think that instead of constantly building more and more living spaces here, we should focus on what is already here and make it better for both homeowners and renters to live here now.
“…which he said reflects a phenomenal increase in value ,,,”
Translation: Our property taxes are going up again. WAY, WAY UP AGAIN and the residential exemption ain’t moving. These stiffs don’t understand that no one can realize that “phenomenal increase in value” unless you sell.
UnionGuy, you are correct. Yet when you sell your house because you can know longer live where taxes are too high, bike lanes are too plentiful, and everything is geared to young hipsters you are accused of ‘selling out’.
LindaS says: I think that instead of constantly building more and more living spaces here, we should focus on what is already here and make it better for both homeowners and renters to live here now.
BRILLIANT!!!!!!!!!!!!!
Thats the way to build an inclusive community. Focus on quality of life and make Somerville a place that more than just people in their 20’s wants to live in. But not a priority for current clueless city councilors who are really focused on who is liking their latest facebook post.