New Bedford business owners appear willing to take an increase in their property taxes, but not as much as would befall homeowners.

Appearing before the City Council, the New Bedford Area Chamber of Commerce proposed a residential tax rate of $15.31 per $1,000, and a commercial rate of $30.52 per $1,000. That's compared to the current rate of $14.33 for homeowners and $29.64 for business owners.

Chamber of Commerce President Roy Nascimento says the proposal benefits both parties.

The City Council will take a vote on the fiscal year 2014 tax rate on Thursday, December 19th.