New Property Tax Rates Approved

The Medford City Council recently approved new property tax rates recommended by the City Assessors for 2016.

Residential tax rate: $11.19

Commercial/industrial/personal property tax rate: $21.82

Average Property Tax Bill Increase for 2016
Single Family- $130.03 (compared to $128.47 last year)
2-Family- $329.28 (compared to $374.08 last year)
3-Family- $310.19 (compared to $513.16 last year)
Condo- $110.48 (compared to $105.02 last year)
Commercial Property- $312.51 (compared to $292.27 last year)

Average 2016 Property Tax Bill
Single Family- $4,745.68
2-Family- $5,687.88
3-Family- $6,697.22
Condo- $3,557.30
Commercial Property- $24,698.06

Average Value Single Family Home
2016- $424,100
2015- $394,500
2014- $366.300
2013- $348,500
2012- $347,400
2011- $346,550
2010- $357,900
2009- $372,500
2008- $400,300
2007- $407,500

Average Value 2-Family Home
2016- $508,300
2015- $458,000
2014- $406,900
2013- $382,000
2012- $378,700
2011- $377,000
2010- $387,600
2009- $432,800
2008- $490,500
2007- $501,800

Average Value 3-Family Home
2016- $598,500
2015- $545,900
2014- $479,500
2013- $451,700
2012- $448,000
2011- $449,000
2010- $465,500
2009- $524,100
2008- $553,500
2007- $552,800

Average Value Condo
2016- $317,900
2015- $294,600
2014- $272,800
2013- $263,100
2012- $261,300
2011- $259,000
2010- $263,900
2009- $278,400
2008- $289,300
2007- $297,100

Average Value Commercial Property
2016- $1,131,900
2015- $1,098,400
2014- $1,029,500
2013- $991,600
2012- $982,800
2011- $1,010,900
2010- $1,056,800
2009- $1,050,100
2008- $1,083,800

Source: City of Medford Assessor