Marblehead announces 2018 Property Tax Rate

(Click here to download a pdf of this report.)

The property tax rate for Fiscal Year 2018 (July 2017-June 2018) will be $11.02, just a penny higher than 2017’s $11.01.

Here is a breakdown in recent years showing the impact of debt exclusions (for items such as schools and the new transfer station):

Source: Marblehead Board of Assessors

As usual, the Board of Selectmen voted to maintain the commercial rate at the same level as the residential rate.

The median Single Family Home assessment for FY 2018 increased 4.3% to $603,000 and the median tax bill for FY 2018 will increase 4.4%, or by $281, to $6,645.

I will provide more details, including a breakdown of how the rate was calculated, in a report this coming weekend.

Meanwhile, may we all have something for which we can be grateful this Thanksgiving.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.

If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.

Are you thinking about selling? Read  Which broker should I choose to sell my house?

Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

@OliverReports