Politics & Government
Beverly Raises Residential Property Tax Rates
The tax rates approved by Beverly City Council Monday night mean an increase of $199 for the owner of the average home in Beverly.
BEVERLY, MA — Owners of the average home in Beverly will pay $6,960 in property taxes next year, up $199 or 2.95 percent from this year. Beverly City Council approved the tax increase Monday night, which is down from about 4 percent in each of the past two years. The new residential rate is $12.83 for every $1,000 of assessed value, while the new commercial property tax rate is $24.73.
The lower increase in the tax rate was the result of higher property value assessments in Beverly. New commercial and residential real estate development also helped keep the tax increase lower than the past two years, according to the Salem News, which first reported this story.
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