Council to Hold Hearing on Property Tax Rate
The Medford City Council. Courtesy photo.
– Allison Goldsberry
The Medford City Council will hold a public hearing Tuesday night at 7PM at City Hall to determine the property tax rate for fiscal year 2008. The Board of Assessors will be present to provide their recommendations for approval by the Council.
Two weeks ago the Council approved a plan by the Mayor and Assessor’s Office to stave off an increase in residential property taxes by raising property taxes on commercial, industrial, and personal properties.
Historically, property taxes rise about $150 each year. The city is hoping the increase will only be about half that.
Currently the residential tax rate is $8.89 and the tax rate for commercial, industrial, and personal property is $17.93. While that rate is lower than what it was in 2006, the average bills for homeowners and commercial property owners increased by $139 and $761 for 2007, respectively, because of increasing property values.
More…
Find out what happened at the last Council meeting
Answers to frequently asked questions on the City Assessor’s website