The Select Board voted to maintain a single tax rate with a residential factor of one.
“At a time when we’re desperately trying to encourage commercial development, this would not be the time to put the tax burden on commercial property,” said Select Board member Elizabeth Dionne, justifying a single tax rate over a split tax rate, which places more burden on commercial properties. “We’re trying to signal we want them to come here and not penalize them for coming.”
In a separate vote, the board—following the recommendation of the Board of Assessors—voted against allowing a residential exemption.
Property assessments increased a “modest amount,” on average, about $50,000, according to Assessor Dan Dargon. New growth remained stable, he added.
Though town officials agreed with the assessors’ recommendation that Belmont was not ready for a residential exemption, some residents pushed back.
“Even a small amount reduction matters to many of us, myself included,” said Precinct 6 Town Meeting member Judith Feinleib.
According to the Department of Revenue, a residential tax exemption effectively shifts the burden within the residential class from owners of moderately valued residential properties to the owners of vacation homes, higher-valued homes, and residential properties not occupied by the owner, including apartments and vacant lands.
Precinct 4 Town Meeting member Lisa Pargoli said she has asked on a near-yearly basis for the town to consider a residential exemption.
“The only thing I got was, ‘Belmont doesn’t do that,’” she said. “I don’t think it’s fair. All the surrounding towns we like to compare ourselves to … they do it. We do want to be sensitive to every dollar matters but … there could be unintended consequences. ”
Dionne, however, countered that the shift matters more when a large commercial base is at play.
“The communities that surround us do have these residential exemptions, but they also have a very robust commercial base,” she said.
