Tax Classification Notice - City of Woburn (original) (raw)

At the Tax Classification Hearing on Tuesday, December 3, 2024, the City Council voted a Fiscal Year 2025 residential factor of 0.732048. The vote by the City Council was acted upon after assessment and valuation methodologies applied by the City were approved by the MA Department of Revenue through their certification review process. Under Massachusetts General Laws, Cities and Towns are allowed to shift up to 175% of the residential tax burden on to commercial, industrial and personal property taxpayer.

The City Council’s vote, to select a residential factor of 0.732048, shifted 175% of the tax levy from residential properties to commercial, industrial and personal property taxpayers.

The revaluation of all property within the City and the selection of a residential factor of 0.732048 resulted in the following:

FY 2025 Average Single Family Assessed Value: $700,311

FY 2025 Residential Tax Rate: 8.54per8.54 per 8.54per1,000 of assessed value

FY 2025 (CIP) Commercial / Industrial / Personal Property: 20.41per20.41 per 20.41per1,000 of assessed value

FY 2025 Average Single-Family Tax Bill: $5,981

FY 2025 Average Single-Family Tax Annual Bill Increase: $583 annual

Download the PDF Letter here: 2024 Tax Classifications