Medford Property Taxes by the Numbers

The Medford City Council accepted the City Assessors’ recommendation for property tax rates for 2011. The new residential tax rate is $11.61 while the commercial, industrial and personal property tax rate is $22.98. Last year’s rate was set at $10.98 for residential property and $21.69 for commercial/industrial property.

Despite a continued drop in property values, taxes increase each year to maintain city services. Historically, the average home owner’s property tax increases about $150 per year.

Average Property Tax Bill Increase for 2011
Single Family- $93.70 (compared to $174.94 last year)
2-Family- $121.12 (compared to $106.78 last year)
3-Family- $101.70 (compared to $171.74 last year)
Condo- $109.37 (compared to $91.35 last year)
Commercial Property- $308.49 (compared to $1,583.96 last year)

Average 2011 Property Tax Bill
Single Family- $4,023.45
2-Family- $4,376.97
3-Family- $5,212.89
Condo- $3,006.99
Commercial Property- $23,230.48

Average Value Single Family Home
2011- $346,550
2010- $357,900
2009- $372,500
2008- $400,300
2007- $407,500

Average Value 2-Family Home
2011- $377,000
2010- $387,600
2009- $432,800
2008- $490,500
2007- $501,800

Average Value 3-Family Home
2011- $449,000
2010- $465,500
2009- $524,100
2008- $553,500
2007- $552,800

Average Value Condo
2011- $259,000
2010- $263,900
2009- $278,400
2008- $289,300
2007- $297,100

Average Value Commercial Property
2011- $1,010,900
2010- $1,056,800
2009- $1,050,100
2008- $1,083,800

Source: City of Medford Assessor