Natick To Set 2022 Tax Rates With Residential Values Up 7.1%

Natick MA

16 November, 2021

10:45 AM

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NATICK, MA — The Natick Select Board on Wednesday will likely set the town tax rates for 2022, and rising property values signal that bills might be going up. The value of all property in Natick rose 5.8 percent in 2021 to about $9.8 billion. But broken down by category, residential values were seen rising the most. The value of single-family homes and condominiums rose 7.7 percent and 8.2 percent, respectively, according to Assessor Eric Henderson. The average value of a single-family home in Natick rose to $686,449 from $639,149 last year. If Natick kept the 2021 tax rate — $13.61 per $1,000 of assessed value — the owner of a home of average value would see a $9,300 annual tax bill, about $600 higher. Unlike many cities and towns in Massachusetts, Natick has elected to use a single tax rate for residential and commercial properties. In nearby communities like Milford and Framingham, commercial property owners typically shoulder a larger share of the annual levy burden, which means slightly lower bills for residential owners. In a memo to the Select Board, Henderson projected that residential owners would pay about 80.4 percent of the annual levy burden in 2022, up from 79.5 percent in 2021. The 2022 Select Board tax classification hearing begins Wednesday at 6:30 p.m.