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Worcester has a split tax rate between residential and commercial properties. For fiscal 2024, the tax rate was set at $13.75 per $1,000 of assessed value for residential property and $30.04 for ...
In 2022, 11% of working Worcester residents reported working from home, compared to 6.9% in 2019, which the Research Bureau also indicated as influencing commercial, industrial and property tax rates.
Petty proposed a comprise that decreased the commercial tax rate by $5.57 and raised the residential tax rate ¢92 per $1000 of assessed value. This tax reform, which passed on a 6–5 vote, was the subject of controversy, for it came in the wake of a revelation that annual property revaluations would lead to significantly higher commercial tax ...
Chapter 61 is a voluntary current use program designed by the Massachusetts Legislature to tax real property in the Commonwealth of Massachusetts at its resources value rather than its highest and best use (development) value. Landowners who enroll their land in the program receive property tax reductions in exchange for a lien on their ...
Proposition 2½ (Mass. Gen. L. c. 59, § 21C) is a Massachusetts statute that limits property tax assessments and, secondarily, automobile excise tax levies by Massachusetts municipalities. The name of the initiative refers to the 2.5% ceiling on total property taxes annually as well as the 2.5% limit on property tax increases.
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Residents of Sterling pay property taxes on real estate and certain other personal items, such as unregistered vehicles. [20] The value of taxable property is determined by the town Board of Assessors. [21] In 2023, the tax rate was $14.30 for one thousand dollars of valuation. Although the tax rate consistently decreased from 2016 to 2023 ...
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