City Council To Set Tax Factor, Homeowners Face Increase
No one wants to raise taxes, but the Mayor's office in New Bedford is arming the City Council with information to help ease the pain. The Council holds its annual Tax Classification meeting Tuesday night.
In a memo to the Council, the Mayor's office says the City has come off an almost unprecedented four-year period where taxes have seen almost zero growth.
Chief Financial Officer Ari Sky says New Bedford has done a remarkable job controlling taxes over the past five years....
According to the Mayor's office, the average tax bill for a single-famly home has increased just $17 over the past four years, but that run of good news for taxpayers will likely end in the coming year.
Officials say because of increases in the school budget, health insurance and pensions, taxes will go up.
The Mayor is asking the City Council to approve a tax factor of 172 or higher, which he says will increase taxes by roughly $12 a month for the average single family homeowner.