Community
Fall River sees unprecedented property tax revenue growth as tax rate to decrease, but property owners will still see increase
Despite a drop in tax rates, Fall River homeowners will see an increase in residential taxes due to higher property values.
Fall River City Councilors Tuesday at a vote of 8-0 (Linda Pereira was not present) approved a 1.75 tax shift for fiscal year 2022, the cheapest option for homeowners.
In fiscal year 2021, the average tax rate for a single-family home in Fall River was $13.83 with an average value of $251,600 leaving an average tax bill of $3,479.63.
The average Fall River single-family homeowner for fiscal year 2022, based on a new average property value of $283,900, will see a tax increase of $103.19 based on a rate of $12.62.
The property value of the average Fall River home for tax purposes increased by $32,300 in the last year.
The average tax rate for commercial property owners in fiscal 2021 was $29.70 with an average property value of $647,100. The average tax bill was $19,218.87.
Commercial property owners will see an average tax decrease of $609.94 based on a new average property value of $688,200 at a rate of $27.04.
[pdf-embedder url=”https://fallriverreporter.com/wp-content/uploads/2021/11/20211116112511004.pdf” title=”tax shift”]
Fall River continues to show a strong housing market compared to other area cities and towns due to the lower tax rate, cheaper prices, and the SouthCoast Rail project. The city saw a $3.37 million increase.
-
Community7 years ago
National Shrine of La Salette Festival of Lights 2017 set to begin
-
Community6 years ago
Massachusetts State Police looking for good home for retired dogs
-
Crime7 years ago
Fall River ranked most dangerous city in Massachusetts according to report
-
latest7 years ago
Durfee student allegedly overdoses on marijuana
-
Community6 years ago
Video of Fall River Police goes viral
-
Causes6 years ago
Missing Fall River woman found deceased
-
Crime7 years ago
Fall River Police add names to most wanted list
-
Causes7 years ago
Fall River teenager reported missing has been found
You must be logged in to post a comment Login