Politics & Government
Tax Rate Classification Set In Peabody
City Council voted last week to increase the city's tax classification by about $137 for the average home.
PEABODY, MA – City Council voted last Thursday to increase the tax rate classification by roughly 3.5 percent. That will increase the tax bill of the average homeowner (based on the average home value in Peabody) by $137.
The vote was 9 to 1, with Councilor Anne Manning-Martin voting against, according to Mayor's Aide Christopher Ryder.
Over the past three years, the value of Peabody homes has increased by a total of 18.5 percent. Ryder said the increase will affect homeowners differently, based on the value of their homes. For some residents, it will mean a higher increase, and for some it will mean less.
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