Board of Assessors Discuss New Tax Rate With City Council

Revere Board of Assessors Chair Dana Brangiforte and Assessors John Verrengia and Mathew McGrath appeared at a City Council hearing Monday night to discuss the adoption of the proposed Fiscal Year 2022 tax rate.

Brangiforte said the proposed new residential rate for homeowner would be $10.42 per $1,000, which is a decrease from Fiscal Year 2021 when it was $11.06. The commercial tax rate will be $20.56 per $1,000, a decrease from Fiscal Year 2021 when it was $21.83.

During his presentation, Brangiforte provided an assessment overview. “The levy limit – the amount of money that we’re going to raise through real estate and personal property taxes – last year’s limit was $95 million (plus $655, 289) so we add 2.5 percent of that which is was Proposition 2 ½ allows you to do, and added to that new growth, so the toal tax levy  is $102 million (plus $73,296), so that is the amount of money that will be raised through taxes.”

Braniforte displayed a chart that showed tremendous growth in properties in the city, notably the new developments on Revere Beach Boulevard, Ocean Avenue, and Shirley Avenue.

“That was $4.16 million, so that’s the largest growth that this city has ever realized,” said Brangiforte. “$2.1 million came from residential, and $1.9 million came from the commercial side – the largest commercial growth that we’ve ever had.”

The big contributors on the commercial side included Amazon, the Suffolk Downs subdivision, and two new hotels.

Councillor-at-Large Gerry Visconti commented that “I feel these large-scale apartment housing [developments] are under-assessed, and we’re missing that revenue and that’s really my biggest concern, because, like Councillor Keefe said, it would offset some of the residential taxes. It’s about time we try to get some relief to the residents.”

Ward 1 Councillor Joanne McKenna expressed the feelings of many of her constituents, stating directly to Chair Brangiforte, “Dana, I agree with Councillor Keefe. I think that the single-family homeowner’s taxes should be less. One of the things I hear from my residents is taxes, traffic, parking. We just raised the water bill and we’re raising the taxes on the single-family house. I mean we’re pushing people out of Revere. We really are. People can’t afford it anymore. We have to some conclusions. We have to find a discount somewhere for these people to keep them here.”

“Because everyone’s leaving,” continued McKenna. “It’s people that have raised their kids here. They’re leaving because they can’t afford it. That’s what I’ve been hearing, so I just want to pass that on.”

Brangiforte acknowledged McKenna’s concerns. “I know. We come every year or really every day and we’re the bearer of bad news because it’s taxes, but the thing to understand is that we don’t control taxes. We’re analyzing the market and we’re repeating that in valuations. That’s what we’re doing. The result of the taxes is part of a much larger calculation, through the levy and the budget and all that good stuff.”

“This is why you get the big bucks,” said Council President Anthony Zambuto, drawing a chuckle from those in attendance at the hearing.