Following a meeting Monday night with the Board of Selectmen, Principal Assessor Skip Moynihan said residents now have an idea what the increase on the annual tax rate will be.
Moynihan recommended a classification shift of 1.75 that was accepted by board members. As a result, the expected commercial tax rate for 2012 will be $28.64 and the residential share will be $12.14.
Last year, the tax rate was set at $11.88 for resdients and $28.10 for commerical locations. As a result, last .
According to Moynihan, the average home in Wilmington is valued at $357,745, meaning the average homeowner in town will see an increase of about $101 on this year’s tax bill.
To put the increase in perspective, Moynihan compared several other nearby towns and the spikes they’ve seen.
Chelmsford’s average tax bill is $5,624, up by $200, Tyngsboro comes in at $4,800, a spike of $320, and Westford’s average bill is $6,902, an increase of $183 from last year.
Moynihan said he understands that during difficult economic times it can be hard to accept any increase, but those he’s talked with so far have been understanding.
“Residents have been pretty receptive,” he said. “I think naturally it’s hard to take because the bills keep rolling in. But we try to be as conservative in our approach to taxes as we can be.”