Marion property owners will see a slight tax increase as Selectmen approved hiking the rate 20 cents compared to the previous fiscal year.

At the recommendation of the Board of Assessors, Selectmen set the tax rate at $11.31 for every $1,000 of value for a property.

Assessors also suggested maintaining a single rate for residential and commercial properties.

In Marion, 93 percent of properties are listed as residential while just under 5 percent are commercial.

Moving to a split tax rate would save residential property owners a small amount, but at the expense of commercial ratepayers, said Board of Assessors Chair Bradford Eames.

A residential property assessed at $400,000 would end up paying $140 less under the split rate.

“The impact on a business at the same value would be a significant increase,” Eames said.

Selectman Chair Stephen Cushing said that might drive away businesses.

“In some instances, that could be the tipping point for some businesses,” Cushing said.

“And it would discourage new business,” Eames added.

Under the new rate, an average property assessed at $400,000 would owe $4,524 in taxes.