Page 2 THE SAUGUS ADVOCATE – FriDAy, DECEmbEr 2, 2022 TAX RATES | FROM PAGE 1 $509,308 (fiscal year 2022) to $565,057 (fiscal 2023). • The average valuation for $4.20 GALLON We accept: MasterCard * Visa * & Discover Price Subject to Change without notice 100 Gal. Min. 24 Hr. Service 781-286-2602 commercial property has increased by $179,604 from $1,728,066 (fiscal 2022) to $1,907,670 (fiscal 2023). • There was a decrease in tax rates. Overall, residential tax rates in Saugus decreased from $12.01 for $1,000 of assessed valuation to $11.26 – a 75 percent drop. Meanwhile, CIP tax rates dipped from $24.87 for $1,000 of assessed valuation to $23.34 – a $1.53 decrease. • The projected new growth has increased over last year 10% Off Senior Discount! SNOW BLOWER SALES, SERVICE & REPAIRS Pickup/Delivery Available 1039 BROADWAY, REVERE WWW.BIKERSOUTFITTER.COM for residential, commercial and personal property classes, from $846,712 (fiscal 2022) to $1,515,638 (fiscal 2023) – an increase of $668,926. • Residential properties account for 82.8 percent of the town’s total valuation of $6.3 billion. • While CIP taxpayers account for about 17 percent of the tax valuation in town, they contribute about 30 percent in tax revenue. I f Saugus homeowners want to learn why their taxes increased, they can go online. Taxpayers who think they are being over-assessed on their property can find out how their property compares to neighboring prop................................................................................... Average Community ............................................. home value Saugus .................................................................... $509,308 Lynnfield ................................................................ $818,833 Melrose ................................................................... $703,389 Reading .................................................................. $698,675 Stoneham .............................................................. $610,402 Wakefield ............................................................... $630,286 Sizing up Saugus’ tax rates Here’s how the residential tax rate in Saugus for Fiscal Year 2022 compares with residential tax rates of other area towns: • Saugus – $12.01 • Lynnfield – $11.99 • Melrose – $10.57 • Reading – $13.33 • Stoneham –$10.41 • Wakefield – $12.32 Projected Fiscal 2022 Taxes Paid/ Percentage Residential – $56.4 million – 70 percent Commercial – $16.9 million – 21 percent Industrial – $3.9 million – 5 percent Personal – $3.3 million – 4 percent Total – $80.5 million – 100 percent Class Residential Commercial Industrial Personal Total Value (Fiscal 2022) $4.7 billion $679.5 million $158.7 million $131.9 million $5.7 billion New Growth Comparison in Saugus: Fiscal Year 2023 New Growth* $1,515,638 erties, and they can seek an abatement Sizing up Saugus’ tax bill Compared to the Fiscal Year 2022 residential tax bills of other area towns, Saugus will remain considerably lower than most, the Board of Assessor’s report noted: Average single family tax bill $6,117 $9,818 $7,435 $9,313 $6,354 $7,765 (Editor’s Note: information compiled by the Saugus Board of Assessors.) The report also noted how the CIP tax rate for Saugus compared to Fiscal Year 2022 CIP rates of other area towns: • Saugus – $24.87 • Lynnfield – $19.32 • Melrose – $18.03 • Reading – $13.55 • Stoneham –$19.81 • Wakefield – $23.77 2022 2021 2020 2019 2018 2017 2016 2015 $846,712 $1,146,652 $1,439,524 $862,574 $792,016 $744,103 $477,878 $1,585,111 (Editor’s Note: information compiled by the Saugus Board of Assessors.) *New growth is the increase in the tax base due to new construction, parcel subdivision, condominium conversions and property renovations but not due to revaluation. It is calculated by multiplying the increased assessed valuation by the prior year’s tax rate for the appropriate class of property. Town Meeting empowers Crabtree to join other communities in looking for cheap electricity to buy By Mark E.Vogler T own Meeting members voted this week to authorize Town Manager Scott C. Crabtree to work with other communities in the purchase of electricity. Article 5, as passed by Town Meeting, would allow the town manager authority to research, develop, participate in a contract or contracts, to aggregate the electricity load of the residents and businesses in the town and for other related services, independently, or in joint action with other municipalities, retaining the right of individual residents and businesses to opt out of the aggregation. “It allows the town manager to negotiate an agreement,” Crabtree told Town Meeting members. “The advantage they’ve explained to me is the ability to purchase electricity at different times of the year when it’s cheaper,” Crabtree said. “The town is just putting this together. Businesses and residences can opt out,” he said. “There are different companies you can sign up with to get lower rates,” according to Crabtree. Crabtree said the article does not enable the town to have its own light company.
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