North Adams residents likely to see average $65 annual property tax increase
NORTH ADAMS — Residential property taxes would rise an average of about $65 next year under a proposal by Mayor Richard Alcombright that calls for maintaining the current ratio between commercial, industrial and personal property taxpayers.
In a letter to the City Council, which is expected to set the city tax rates for fiscal 2016 on Tuesday, Alcombright recommended maintaining the 1.71 tax shift onto commercial, industrial and personal property taxpayers.
The tax levy has increased to $15.73 million in fiscal 2016, an increase of 4.75 percent over 2015, but within the limits established under proposition 2 1/2.
The result of Alcombright's plan would be an increase in the residential tax rate from $16.69 to $17.39 per $1,000 of assessed property and an increase in the commercial rate from $36.03 to $37.93.
"As we establish this CIP shift, we are assuring our community that we will be able to provide, services at acceptable levels," Alcombright wrote.
The council approved the $38.57 million fiscal 2016 budget earlier this year, which saw an overall spending increase of 2.25 percent from fiscal 2015.
The average home in the city of North Adams is assessed at $134,518. If the council were to shift the tax burden as far onto commercial properties as legally allowed, the planned $65 annual increase would drop to about a $30 increase.
By comparison, a return to a single tax rate (1.00 shift) would result in an increase of more than $600 annually to the average residential taxpayer.
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