Salem Raises Property Taxes by $71 on Average Home
The city stays $3 million under state tax limit.
The City Council voted Thursday night nine to one to raise the average single-family residential property tax for next year by $71 and condo owners by $100.
It voted to keep the business tax rates at the same 1.65 percent split. The average commercial tax bill will be $15,481.
The average two and three-family residential buildings will increase about $115.
The average single family home was valued at $284,800. The average condo was valued at $217,300. Seventy five percent of all residences in Salem are in these two categories.
The average two-family residential building was valued at $273,300, while the average three-family building was $295,200.
The total city property tax levy will be $74,879,216. That amount is about $3 million less than what the law allows it to raise tax under the state's Proposition 21/2.
The lone vote against the tax rate came from Ward 6 Councilor Paul Prevey, who said he tried to get the council to reduce the budget earlier this year so the tax rate would not have to be raised.
The new residential tax rates will keep Salem among the lowest among surrounding towns and cities. Only the cities of Lynn and Peabody were expected to have a lower tax rate than Salem.
Danvers had the next highest with an average increase of $129. Beverly and Marblehead were raising the average tax by $134. And Swampscott raised its average tax by $233.
Over the last dozen years, Salem has seen its share of residential taxpayers rise, while its percentage of commercial tax payers has declined. Residential taxpayers now make up 82 percent of the city, as compared to 73 percent in 2000.