Tax Rate to Rise 6.3% on Average; Tax Classification Remains the Same

November 26, 2013

By Meredith McCulloch

SelectmenAt their November 18 meeting the Selectmen approved the tax classification recommended by the Board of Assessors. It would continue the same balance between residential and commercial/industrial as over the last several years, wherein the businesses would have a 175% allocation compared to residential. An Open Space discount of 25% would remain the same.

The classification results in an overall increase of 6.3% in residential taxes for Bedford, however a homeowner’s tax bill will be higher or lower depending on the specific situation.  As each home is reevaluated on an individual basis the amount on which the home is taxed may increase or decrease. The overall tax rate is determined by dividing the Town budget, approved by Town Meeting, by the total valuation of all property (Residential, Open Space, Commercial, Industrial, and Personal) as determined by the Assessors and apportioned according to the classifications.

Three factors will impact the January bill that arrives in the homeowner’s mailbox in January (due on February 1):

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  1. Tax rate increase – The rate will rise from 15.37 to $15.71 per $1,000 evaluation.
  2. Home value – The assessed value of the home. The average value of a single-family home has risen by about $20,000 from $518,100 to $538,600 (FY2014.)  That is an average; individual homes will be higher or lower.
  3. Previous estimated tax bills – The first two quarterly tax bills, paid in August and November of each year, are estimated taxes and the last two increase to make up for the lower estimate in the previous payments.

A homeowner who believes his property has been incorrectly valued may apply for a tax abatement at the Assessor’s office in Town Hall during the month of January. See: https://www.bedfordma.gov/assessing-department/pages/real-estate-personal-property-abatements

There are also several tax exemptions for which people on low incomes, seniors, veterans, etc. may apply. Details are posted on the Town web site at:  https://www.bedfordma.gov/assessors-department/pages/real-estate-exemptions-0

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Charlie
November 29, 2013 6:26 pm

Not a big surprise. Taxes will continue to rise as long as people continue to vote for programs and services that are too expensive and unsustainable. Our children will be paying half of their income to the taxman at some point. We’ve been heading down the path of socialism for quite some time.

oldwiz65
January 2, 2014 9:24 pm

We’ve been either drinking bottled water or boiling it.

oldwiz65
November 27, 2013 8:24 am

Ouch…That comes to about $ 500 per year for us. Guess the overrides are really kicking in. Wonder how many other senior citizens will be considering moving? With the rise in housing values it might be time to sell and move.

EastCoastElitist
November 26, 2013 8:49 pm

> An Open Space discount of 25% would remain the same.

How do we up that to 100%?

Forch
November 26, 2013 12:22 pm

Bedford real estate taxes up 6.5% (6.3% adjusted for increase in housing prices). How is that sustainable??? Inflation is around 1%. What happened to Prop 2.5?

EastCoastElitist
November 26, 2013 9:03 pm
Reply to  Forch

> Bedford real estate taxes up 6.5% … How is that sustainable???

It’s not sustainable but is there any reason to believe that this year’s increase is the new normal as opposed to the a one-time hike? The Assessing Dept. should be able to provide a history of tax rates.

> What happened to Prop 2.5?

Presumably the proposed increase is within the Levy Limit. Reference: https://www.mass.gov/dor/docs/dls/publ/misc/levylimits.pdf

Stan Gedaminsky
December 1, 2013 8:43 am
Reply to  Forch

Don’t forget the community preservation surcharge. Let’s give away more money to affordable housing and supposed life skill training!
Yet we keep receiving notices that our drinking water is substandard.

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