Dracut sets fiscal 2022 tax rate

The rate is going down, but bills will be going up

dracut » Homeowners will see an average increase in their property taxes of about $164 in fiscal 2022 based on a tax rate of $12.29 per $1,000 valuation.

The Board of Selectmen recently voted to retain the town’s single tax classification system. Some neighboring communities use a split classification system in which homeowners pay a lower tax rate than businesses, including industrial, commercial and retail enterprises.

The tax rate for this fiscal year is actually lower than last year’s rate of $13.01 per $1,000 valuation, but an increase in property values means people will pay more. Single-family homes and condominiums have seen increases of 9% and 8% increase in property values. Twofamily home values have increased 11%.

“We’re doing well in Dracut with property values,” said Chief Assessor Karen Golden.

The 9% increase in single-family home values follows a 5% increase

‘We’re doing well in dracut with property values.’

– Karen Golden, chief assessor

last year.

Last year, the average price of a single-family home in Dracut was $386,000, and this year it is $422,000. As a percentage of the town’s tax levy, homeowners pay 92% and businesses pay 8%.

When selectmen decided to stay with a single-rate system, Selectman Tony Archinski said, “Going to a split rate, you’re taking chances that businesses would not want to locate in town.”

Property taxes in Massachusetts are assessed for a fiscal year, July 1 to June 30, not a calendar year. Valuations used to calculate property taxes are based on information the Assessor’s Office submits to the state and accepted by Jan. 1, six months ahead of the fiscal year start.