Medford Property Taxes To Rise In 2020

MEDFORD, MA — As property values rise in Medford, so, too, do property taxes. The residential tax rate dropped from $9.60 to $9.18 per $1,000 in fiscal year 2020, but the average value of a single-family home rose by nearly $50,000, according to the city assessor.

The average single-family home is valued at $615,000, up from $565,215 in FY 2019. That means the average homeowner will see an increase of 8.8 percent, or $219.

The average commercial property is valued at $1,403,419, and the average industrial property is $1,477,189. Commercial and industrial properties were valued at $1,328,976 in fiscal year 2019. The commercial tax rate dipped to $17.57 from $18.43, but property owners can expect a nearly $300 increase in taxes.