Essex County 2022 Commercial Property Tax Rates: Town by Town guide

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While most of us look at residential tax rates (read Essex County 2022 Property Tax Rates: Town by Town guide ) fewer consider commercial tax rates. Yet a healthy commercial business environment can contribute significantly to the attractiveness of a town. The map below shows commercial rates in each of Essex County’s 34 cities and towns, followed by a table showing commercial rates for each town.

Commercial rates for each town: (more…)

Essex County 2020 Commercial property tax rates: Town by Town guide

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While most of us look at residential tax rates, fewer are concerned with commercial tax rates. Yet a healthy commercial business environment can contribute significantly to the attractiveness of a town. The map below shows commercial rates in each of Essex County’s 34 cities and towns, followed by a table comparing residential and commercial rates.

(Click here to download a copy of this map and here to download the table)

 

commercial property tax rates

commercial property tax rates

There is a bigger variation in commercial rates than in residential rates
The lowest rate for both residential and commercial rates is Rockport’s $10.10, but while the highest residential rate is Wenham’s $18.94, there are 11 towns with commercial rates over $20, with the highest being $28.42 in Salem. 20 towns set the same rate for both residential and commercial, while in 3 towns the commercial rate is more than double the residential one.

Why do some towns have different residential and commercial tax rates?
Cities and towns have the ability to increase the percentage of the total tax bill paid by commercial (and industrial and personal) property owners. The percentage of the value of property classified as commercial varies enormously from town to town.
In Marblehead,  for example, where residential property is 95% of the total, a 50% tax shift to commercial would increase the average commercial tax bill from $7,003 to $10,508, while reducing the average residential tax bill by only $189.
Towns with a higher percentage of commercial property are more likely to shift an increased share of the tax bill to commercial owners.

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
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