Marion sets property tax rates for fiscal year 2022

Nov 30, 2021

MARION — The owners of a $500,000 single-family home will pay $5,425 in property taxes in fiscal year 2022, a decrease of almost $250 from the fiscal year 2021 bill, according to Marion tax documents.

The proposed single tax rate for FY 2022 is $10.85 per one thousand of assessed valuation. This is a $0.49 or 4.3% decrease over the FY 2021 tax rate of $11.34.

The select board agreed to maintain a single tax rate for both personal and commercial properties.

Having a separate rate for commercial property would reduce the residential tax bill for a $500,000 home by $200. But the commercial/industrial bill for a $500,000 commercial property would increase from $5,425 to $8,140, for an increase of $2,715.

The relatively low decrease to homeowners compared to the large hike in commercial tax bills reflects the relatively small number of businesses in town.