A wash for property tax bills

The City Council has raised the property tax rate on homeowners, though tax bills will change little. For the fiscal year that began July 1, the rate for homeowners was increaed to $16.88 per $1,000 of assessed valuation from $16.14. But because of lower valuations, the tax bill for the median single-family home is estimated at $2,937, practically unchanged from last year. The business and personal property tax rate will rise from $29.96 to $31.91. Total new revenue amounts to $1.7 million, and the city is applying $1 million in other new revenue to hold down taxes, according to chief financial officer John Condon.