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No change in residential tax rate; commercial rate will rise slightly

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The state recently certified the city’s property tax rate for fiscal 2013. The residential tax rate will remain unchanged at $10.40 per $1,000 valuation, while the commercial rate will rise slightly, from $26.83 per $1,000 to $27.01 per $1,000. The City Council at its annual classification hearing decided to maintain Woburn’s existing policy of having a split tax rate, and to continue the existing shift of the residential tax burden on to businesses. Under that shift, the maximum allowed by law, businesses pay 75 percent more in taxes than if there was a single rate. The owner of an average single-family home valued at $341,661 will pay $3,553.27 in taxes in fiscal 2013, or 73 cents less than the $3,554 the owner of an average home valued at $341,731 would have paid in fiscal 2012. “It’s very good news for the residential taxpayer,” Mayor Scott D. Galvin said. “We’ve been able to be conservative in our budgeting and still provide great services.” He said that while continuing the maximum shift, the city was also able to hold the commercial tax rate to its lowest increase in about seven years, and to keep it below the commercial rates charged in some neighboring communities. “We give our commercial taxpayers a good value for their buck,” Galvin said.

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