View All Posts

Nov 28

Assessors Announce New Tax Rate

Posted on November 28, 2014 at 1:07 PM by Karen Benoit

The Wilbraham Board of Assessors announced that the real estate and personal property values for FY 2015 have been finalized and certified by the by the Massachusetts Department of Revenue. The BOA further announces that the tax rate has also been approved by DOR at $20.88 per $1,000 of assessment.  The new rate is an increase of $.44 over that of the previous year.

The single rate of $20.88 applies to all classes of real property, commercial and industrial, as well as residential. This in accordance with the vote of the Selectmen at the Classification Hearing held November 24, 2014.

The FY 2015 tax rate is based on the appropriation of $43,883,035 plus other amounts to be raised (principally for State charges and the Overlay account) which total $374,361.  The estimated receipts and other revenue sources are $11,290,327 resulting in a levy of $33,341,411 to be raised from real and personal property valued at $1,596,810,900.  This value includes an increase of $17,427,993 in new growth for FY15 resulting in $356,228 new tax dollars.

Taxpayers are reminded that the rate increase is a result of Town Meeting appropriation, the school department exclusion and current market conditions as of January 1, 2014.  Tax bills will be mailed out at the end of December 2014; and payments, as well as applications for the abatements, are due by February 2, 2015.