THE SAUGUS ADVOCATE – FRIDAY, DECEMBER 10, 2021 Page 7 NEW TAX | FROM PAGE 1 Saugus. “It’s not going to happen,” he said. Keohan agreed with Crabtree, adding “Saugus is without question the best bang for the buck around.” Here are some of the highlights of the tax classifi cation hearing: • No residents spoke during two public comment periods at the meeting, either for or against the tax reclassifi cation. • The average valuation of a single-family home in Saugus has increased by $41,554, from $467,753 (FY 2021) to $509,307 (FY 2022). • The average valuation for commercial property has increased by $29,221 from $1,698,845 (FY 2021) to $1,728,066 (FY 2022). • There was a decrease in tax rates. Overall, residential tax rates in Saugus decreased from $12.34 for $1,000 of assessed valuation to $12.01 – a 33cent drop. Meanwhile, CIP tax rates dipped from $25.74 for $1,000 of assessed valuation to $24.87 – an 87-cent decrease. • The projected new growth has slightly decreased over last year for residential, commercial and personal property classes, from $1,146,652 (FY 2021) to $846.72. • Residential properties account for 83 percent of the town’s total valuation of $5.7 billion. • While CIP taxpayers account for about 17 percent of the tax valuation in town, they contribute about 30 percent in tax revenue. If Saugus homeowners want to learn why their taxes increased, they can go online, Board of Selectmen Vice-Chair Debra Panetta said. Taxpayers who think they are being over-assessed on their property can fi nd out how their property compares to neighboring properties, and they can seek an abatement, she said. Sizing up Saugus’s tax bill Compared to the FY 2021 residential tax bills of other area towns, Saugus’s will remain considerably lower than most, the Board of Assessor’s report noted: Community Saugus Lynnfi eld Melrose Reading Stoneham Wakefi eld Average home value $467,754 $699,580 $657,097 $657,312 $565,130 $588,200 Average single family tax bill $5,772 $9,283 $7,195 $9,077 $6,114 $7,488 (Editor’s Note: Information compiled by the Saugus Board of Assessors.) Sizing up Saugus’s tax rates Here’s how the residential tax rate in Saugus for FY 2021 compares with residential tax rates of other area towns: • Saugus ......................................... $12.34 • Lynnfi eld ................................................... $13.27 • Melrose ..................................................... $10.95 • Reading ..................................................... $13.81 • Stoneham ..................................................$10.82 • Wakefi eld .................................................. $12.73 The report also noted how the CIP tax rate for Saugus compared to FY 2021 CIP rates of other area towns: • Saugus ......................................... $25.74 • Lynnfi eld ................................................... $19.29 • Melrose ..................................................... $18.69 • Reading ..................................................... $14.06 DECEMDECEM YMC CEMBER IS FREE M A o CA CEM YMCA of Metro North CEMB • Stoneham ...................................................$20.50 • Wakefi eld .................................................. $24.67 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 Value (Fiscal 2022) Residential .......................................... $4.7 billion Commercial ..................................$679.5 million Industrial .......................................$158.7 million Personal .........................................$131.9 million Total ......................................................$5.7 billion New Growth Comparison in Saugus* Fiscal Year New Growth 2022 .......................................................... $846,712 2021 ...................................................... $1,146,652 2020 ...................................................... $1,439,524 2019 .......................................................... $862,574 2018 .......................................................... $792,016 2017 ..........................................................$744,103 2016 ..........................................................$477,878 2015 ...................................................... $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. HOLIDAY AT THE Y. Join the Y for free and pay $0 until January Use Code: YHoliday ENJOY YOUR Sign up for your membership online or stop by our locations in Lynn, Melrose, Peabody, and Saugus. YMCA of Metro North | ymcametronorth.org | 978-548-5068 *Offer valid for new members only. Cannot be used in conjunction with a current, active membership. Membership fees begin on January 1, 2022.
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