Residential Tax Rate to Increase

Weston homeowners can expect to pay an average of about $15,750 on their next property tax bills, pending the approval of a proposed tax rate of $12.11 per $1,000 of assessed value.

The increase represents a hike of about 5.57 percent over FY11’s rate of $11.39 per $1,000 of assessed value.

In the yearly tax classification hearing at Tuesday’s Board of Selectmen meeting, principal assessor Eric Josephson told the board the average residential property is assessed at $1.3 million, about a 2 percent decrease from last year’s assessed values.

Under the proposed scenario, average homeowners will pay about $936 more on their next tax bill, up from last year’s average tax bill of about $14,800.

Also at the meeting, the selectmen approved a single tax rate for residential and commercial properties. As part of the classification hearing process, assessors are required to present split-tax-rate scenarios, but Josephson said the low percentage of commercial properties in town has historically compelled a uniform tax rate.

“Residential properties represent more than 95 percent of all (properties) in Weston,” Josephson said.

Under state guidelines, the Massachusetts Department of Revenue must approve the tax rate by the Jan. 1 tax bills deadline.