The average single-family homeowner in the city should expect to see about a 4.1%, or $331, increase in property taxes for fiscal 2022.
At a meeting Monday night, the City Council voted 10-1 to approve Mayor Donna Holaday’s recommendation to establish a tax rate of $12.01 per $1,000 of assessed value for fiscal 2022.
This rate is based on a tax levy of approximately $63.6 million and a citywide valuation of about $5.3 billion, the mayor noted in her recommendation to the council.
The average single-family home in Newburyport was recently assessed at $702,000, compared to $640,800 in fiscal 2021.
The average single-family homeowner can expect a tax bill of $8,431, but each household will vary depending on the home’s assessed value and whether improvements were made to the property in the past year.
Approximately 51.8% of homeowners will see an increase less than 4.1%, while 48.2% will see an increase greater than 4.1%, according to city officials.
The tax levy is a 1.4% increase from the fiscal 2021 levy limit.
