A Rise in Property Values May Affect Vote on 2012 Taxes

December 06, 2011 / Russell Legato, Residential Property Analyst

The Chief Assessor and Board of Selectmen will vote on property taxes in Brookline at a December 6 meeting. This is the yearly meeting on tax classification. The rise in property values and Chief Assessor’s findings will influence the vote on residential property tax as well as commercial.

A Rise in Property Values May Affect Vote on 2012 Taxes

The town of Brookline’s value is currently more than 15.26 billion dollars. It has increased 2.26 percent since last year. Taxes will be levied according to one of the options offered by the Chief Assessor. If residential property tax carries the burden, it could rise by 1.24 percent. If shifted to the commercial, industrial and personal (CIP) levies, they would take on a 1.03 percent increase.

Options include a rise in residential property rates from $11.30 in 2011 to $11.44 in 2012; for the option of placing the burden on the CIP, it would bring the residential levy to $11.38 and the CIP to $18.76 for 2012. The rate is figured on the basis of each thousand dollars of property value.

The Brookline Chamber of Commerce sees any tax increase as an undue burden due to the poor economy and the challenges it presents to business. It also impacts the individual homeowner. The tax rates rise with the cost of living, however.

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