THE MALDEN ADVOCATE–Friday, November 22, 2024 Page 9 TAX | FROM PAGE 1 an average Malden single-family residential property taxpayer, this will mean about a $2,800 savings. The Council also voted to adopt a property tax rate of $11.33 per $1,000 of assessed value for Residential Property and $17.54 per $1,000 of assessed value for Commercial Property. The new rates are less than last year’s 2024 rate of $11.70 Residential and $18.20 Commercial, but they will not reflect a drop in taxes since the property value assessments continue to soar in Malden. Specifically, last year’s 2024 average residential property was assessed at $743,873. This year’s average residential property assessed value is $792,121, an increase of nearly $50,000 per property, or, 6.71% higher. Commercial properties’ assessed value will be less on paper, but the assessed average value of commercial property was $1,287,943 in 2024, but is up 10.6% in average assessed value in just a year, to $1,424,960 in 2025. The average residential property owner in Malden who owns a single-family home can expect to see an increase of between $250-$273 in 2024. Commercial property owners MYRWA| FROM PAGE 1 Outreach for the City of Malden. She sits on various boards, including at Metro North Housing Corp., which develops and manages affordable housing, the Community Health Advisory Council for Cambridge Health Alliance and the North Shore Hispanic Association. She is a member of Zonta International, a global organization building a better world for women, a founding member of Malden Community Organizing for Racial Equity (MaldenCORE) and Friends of Oak Grove, Inc. where she helps build community connections through activities and events. Her passions include her family and spending time in green and blue spaces, especially the Malden River! She is on the Malden River Works Steering Committee, where she advocates for access to the river in Malden. “Making nature, as well as green and blue spaces, accessible to everyone is not only a matter of equity but also essential for the health of individuals and communities. I am honored to have a role in helping to advance the will see a property tax increase of approximately $1,550 in 2025. For example, the average tax bill for residential owners with the exemption will be $6,063, without the exemption, $8,973. Cramer reported that in Malden just under 8,000 (7,998) residential properties will be eligible for the owner-occupied 30% discount in 2025, down from an average of 8,500 in past years. “We are seeing less and less owner-occupied residences in Malden,” Cramer said, describing what is becoming a trend. Another trend, one that has become closely watched by the City Council in recent years, is the rise in percentage real estate growth in Malden; as residential stock increased 6% in the past year commercial real estate increased only 3% in the past year. Ward 4 Councillor Ryan O’Malley asked Cramer for some specifics on how to apply for the 30% owner-occupied exemption, or rebate. Malden’s Chief Assessor said the deadline for applying for the next bill is April 1, 2025. Despite the fact that initial property tax bills are issued in January, residential taxpayers have until April 1 to apply for the exemption. On another O’Malley question, Cramer confirmed the owner-occupied exemption would carry over important work of the Mystic River Watershed Association,” said Colón Hayes. Winchester resident Dr. William “Pepper” Denman has lived in the Mystic River watershed for almost 35 years and has become an avid herring counter, tree planter and litter remover! He and his wife Stephanie are passionate about working to protect and remediate our natural treasures. He is on the board of the Museum of Science and several commercial boards. Somerville Ward 5 Councillor Beatriz Gómez Mouakad has more than 25 years’ experience in construction, urban development, strategic planning and project management. She is an active community volunteer, including being on the boards of Groundwork Somerville, the Somerville Community Corporation and Somerville Youth Soccer League. She is a founding member of Padres Latinos, the Somerville volunteer organization formed during the COVID-19 Pandemic to advocate and increase access to resources for the Latino immigrant community in Somerville. “I see the space we inhabit is an from one year to the next with no new application necessary unless the property’s deed changed. Cramer also noted there were about 50 property tax abatement requests last year, most of them by property taxpayers challenging the property’s valuation. He said that’s a realistic number, in that if it dropped to lows of the teens, for example, it would be an indication that the assessments were too low as to real valuation. Some other statistics shared included the average valuations in surrounding communities with the 30% residential exemptions, average tax bills and rates. Malden has an average valuation of $740,867 with a rate of $11.33 per $1,000 of valuation and bill of $6,063 with the exemption. Only Chelsea and Everett are lower in nearby communities, Chelsea with an average bill of $5,603 with the residential exemption with assessed residential value $724,617 and a rate of $11.90 per $1,000. Everett is $5,893, $685,652, $11.46. —Boston is $6,703, $946,404, $10.90 —Cambridge is $6,810, $1,643,373, $10.46 —Somerville is $7,549, $1,100,993, $10.52 interconnected system. Protecting the watershed and providing access to nature for all people is part of the equation that will allow resiliency in our changing climate and the health of our community. Nature is the common bond that connects humans across cultures and to allow for greater equity we need to allow access to all green spaces and watersheds,” said Gómez Mouakad. “It is truly an honor to join the MyRWA in their mission to allow easy and safe access to nature for all and in their advocacy for environmental justice because our community is just part of the greater whole that is our ecosystem. At MyRWA’s annual meeting, Erga Pierrette and Julie Ing Stern were reelected to second terms on the Board of Directors. The board, which is now 17 members strong, is charged with organizational oversight, leadership in strategic planning and connecting to the wider community. MyRWA is led by professional staff and also organizes thousands of volunteers working together. For more information about MyRWA, see www.MysticRiver. org. Like us on Facebook advocate newspaper Facebook.com/Advocate.news.ma RON’S OIL Call For PRICE MELROSE, MA 02176 NEW CUSTOMER’S WELCOME ACCEPTING VISA, MASTERCARD & DISCOVER (781) 397-1930 OR (781) 662-8884 100 GALLON MINIMUM 425r Broadway, Saugus Located adjacent to Kohls Plaza Route 1 South in Saugus at the intersection of Walnut Street We are on MBTA Bus Route 429 781-231-1111 We are a Skating Rink with Bowling Alleys, Arcade and two TV’s where the ball games are always on! 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