By Adam Swift
As has been the case in past years, the city council approved a split tax rate on Monday night.
The split tax rate shifts a heavier burden on commercial and industrial properties as opposed to residential property.
“Historically, the Council has always adopted the 175% shift and adopting this Residential Factor will allow us to create a split tax rate and shift the burden to the commercial tax rate thereby providing the greatest tax benefit to the residential taxpayer,” said Dana Brangiforte, chair of the board of assessors. “This vote will allow the Board to proceed with the establishment of the tax rate for Fiscal Year 2026.”
According to Brangiforte, the estimated residential tax rate for FY26 will be $8.94 per $1,000 of valuation. That estimated rate is down from the FY25 rate of $9.07 per $1,000.
The estimated commercial and industrial rate is estimated to be $17.74, which would be down from the FY25 rate of $18.05.
Councillor-at-Large Michelle Kelley noted that while there is an anticipated decrease in the tax rate, the average tax bill could increase if the property valuations increase.
