Bourne to Keep Single Property Tax Rate for Fiscal Year 2020

Bourne Town Hall

BOURNE – A single property tax rate will be maintained in Bourne after town officials accepted the recommendation of the board of assessors.

The assessors concluded that there is too wide of a gap between residential and commercial property for a split rate to be implemented.

Nearly 88 percent of the tax levy in Bourne is made up of residential property said assessor Bruce Cabral as he spoke to selectmen during a recent join meeting of the selectmen and the Bourne Finance Committee.

“The Board of Assessors recommends that the board of selectmen vote to retain one tax rate for all classes of property for fiscal year 2020,” Cabral said.

“The board feels the relatively small benefit to the residential tax payer, which could be achieved through the use of two tax rates, does not warrant the significant increase in taxes, which would be shifted to the commercial industrial and personal property tax payer.”

According to Cabral, if the town shifted to a split tax rate only 10 percent of the tax burden would be sifted to the commercial and industrial base.

The result would mean residents would see a $54 decrease to their annual property tax bill while commercial and industrial property owners would see a $424 increase on their bill.

If a 25 percent split was implemented, residents would save $133 annually while commercial and industrial property owners would see a $1,062 increase to their tax bill, said Cabral.

The tax increases and decreases were based on a median single-family home assessed value of $360,700, and a median commercial/industrial property assessed value of $396,200.

Cabral told the board that the tax rate for the coming year will be $10.74 per $1,000 valuation, which is an increase of 23 cents over the last year.

Selectmen agreed with Cabral’s recommendation and approved keeping the single tax rate in Bourne for the coming year.