More home sales, lower property tax rate for 2021 in Rochester
ROCHESTER — At a Nov. 17 Selectmen’s meeting, Town Principal Assessor Charles Shea said that anywhere from 60 to 65 homes have been sold in the last year, a number that has been steadily increasing.
Because of the sales and higher property value, Selectmen approved a single tax rate at the recommendation of the Board of Assessors of $13.37 per $1,000, an 82 cent decrease from last year’s rate.
The single tax rate means that residential, commercial, industrial and personal property will all be taxed at the same rate.
The town’s total levy for the 2021 fiscal year will come in at $14,420,966.15, a 3.32% increase from last year’s $13,957,475.
The average value for a home in Rochester rose from $413,400 to $431,870. With this, the taxes paid on the average home will increase by $201.47 for a $5,774.10 tax bill.
Shea noted that the average tax bill is just an average, and it may be higher or lower depending on property value.
The rate is based on substantial market analysis of sales in the town in the last year.
Historically, the town has used single tax rate instead of splitting the burden between businesses and residential properties.