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    Selectmen raise property taxes

    Property taxes will increase by about $340 for the owner of the average single-family home in town after selectmen Monday approved this fiscal year’s tax rate. The board approved increasing the residential tax rate to $15.20 per $1,000 of assessed value, compared with last year’s rate of $14.97. The average assessed value for a single-family home in Lexington is now $717,526, said Robert Addelson, the town’s finance director. Selectmen also raised the tax rate on commercial, industrial and personal properties to $28.97 per $1,000 of value, which is up from $28.45 last year.