Politics & Government

What is Reading's Tax Rate for 2014?

Reading's Board of Selectmen opted against a residential tax exemption.

The Reading Board of Selectmen met last week and approved the tax rate for 2014. So how much will the average homeowner be paying next year?

According to a press release on the town website, selectmen approved a tax rate of $14.74 per $1,000 of value. That figure is a reduction of 20 cents from the previous year's tax rate of $14.94.

After an increase of 3.1 percent over 2013, the average value of a single family home in Fiscal Year 2014 is $446,100, according to the town. As a result, the average family's tax bill will be $6,575, an increase of 1.76 percent.

Selectmen had the option to create a residential exemption or a small commercial exemption, but opted against it because Reading is mostly an owner occupied community, according to the press release.

Residents can be on the lookout for their tax bills over the upcoming days as they will be mailed out by the end of the year.


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