By Carol Britton Meyer
The Select Board, in accordance with tradition,
voted to maintain a single tax rate for residential and commercial properties during the recent Fiscal 2023 tax classification hearing, as recommended by the board of assessors.
The purpose of a classification hearing is to decide whether to shift the tax burden between the property classes. During the joint meeting, Director of Assessing Erin Walsh explained that at this time, shifting the tax rate to a higher one for commercial properties "would place a burden on the commercial base." That's because about 89 percent of the tax base is residential.
As an example, based on an estimated tax rate of $10.02, the highest shift would result in commercial properties paying approximately 50 percent more in taxes, while owners of residential parcels would save about 6.48 percent.
Board of Assessors Chair Chrissy Roberts said the board had a "very robust discussion, and at the end of the day we didn't see anything compelling to make a change at this point, but we will continue to look at [that option] every year."
Statistics show that of the 27 cities and towns in Plymouth County, five have a split tax rate.
Overall, property values are on the rise in Hingham, including residential and commercial properties and condominiums.