POLL: Do You Support a Split Tax Rate?
Do you prefer a split or single tax rate?
Tax bills are due Feb. 1.
The tax rate this year was $14.38 per $1,000 in accessed value. The rate was $14 per $1,000 last year and $13.47 in the previous year.
North Reading has a single tax rate, making residential and commercial tax rates the same.
Selectman Mike Prisco does not agree with the single tax rate and would prefer that the town change to a split tax rate, which would require businesses to pay more than residents.
According to Selectman Steve O'Leary, however, the most a split tax rate would save an average household is $477, but it would increase businesses taxes by approximately $6,600.
Raising business owners' taxes would prevent them from donating to town programs, and may even steer new businesses from opening in North Reading, according to single tax rate supporters.
What do you think? Take our poll and let us know!