New Bedford Guide Your Guide to New Bedford and South Coast, MA
As the South Coast Today reported yesterday, residential property taxes in New Bedford will go up $220 on average. Commerical properties will see an average increase of $26.
Yesterday evening, the New Bedford City Council unanimously approved a residential tax rate of $16.47 and a commercial tax rate of $34.84 per $1,000 of valuation. The average New Bedford residential property tax rate next year will be $3,742 due to residential property values increasing 5.2%.
Generally, there are three ways to raise property taxes – increase the property tax rate, increase the property value or a combination of both. The real battle that city councilors fight is where the increase in taxes will come from – residential or commercial sources. Clearly, the burden this year was put on the residential homeowners as they saw an 8-fold increase compared to commercial owners ($220 Vs. $26).
No one should be surprised that taxes rise each year as charter school expansions, pensions, and healthcare costs continue to put upward pressure on the budget. Until those problems are resolved you can expect higher taxes.
A good summary of New Bedford’s FY19 budget can be read here.
I think it’s a damn shame
How come we always hear about the budget? When the budget is just a small portion of the comprehensive annual physical report otherwise known as CAFR! This is a far more important report then a mere budget report. You could be short on the budget and still have numerous assets, someone needs to do a forensic accounting report on all of the cities assets.
Monies from lack of snow removal for the past couple of years, where did that go? We haven’t had as much as we used to, so where is that extra money? Put that towards the residential tax issues. Our mortgage should not be raised every single year cause you can’t balance a budget. I live on a budget now I have to cut back on what, food, my heat, electric, water, my heat stays on 67 thru these winter months. Cutting back on lights being used in my household, less laundry, do I need to continue? No but I’m sure y’all aren’t making those same sacrifices. This is wrong and SAD don’t tell me there is no other way. Every year, every year it’s the same shit with our property taxes. Fix the budget but not at our expense. Shame.