Town of Arlington, Fair Housing Action Plan (July 2021)

Citation: Town of Arlington, Fair Housing Action Plan (July 2021)
Jurisdiction: Arlington (municipal)
Source: Official source
Original Source: https://www.arlingtonma.gov/home/showpublisheddocument/57214/637641171662530000 ↗

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Property Taxes
Property taxes are local taxes on real estate and business-owned personal property. The tax “levy” (the total
amount raised) and the tax rate are set locally, but that process is dictated by rules at the state level. An
individual homeowner’s property tax bill is largely determined by two numbers: the residential tax rate and the
assessed value of a home. The assessed value is the fair market value of a home, estimated from recent
comparable sales in the area. The tax rate is set annually by the Town. The tax bill is set by applying the tax
rate to each home’s assessed value. While the tax rate has remained fairly steady since 2001, home values
have risen, causing an increase in tax bills. The residential tax rate in 2020 is $11.06 per $1000 of assessed
property value. This has actually decreased slightly in recent years and is among the lowest rates of the past 20
years. The average amount of taxes owed on a single-family home in Arlington in 2020 was $9,126.
In most years, the Town can only increase the total amount raised in property taxes by 2.5%, excluding taxes
raised from new development. Voters can “override” this cap and approve larger increases for specific
purposes. Additionally, certain debts can be omitted from this cap through a “debt exclusion,” which is a
temporary tax increase to pay for a specific debt. In 2019, Town Meeting approved both a debt exclusion to
build a new high school and an operating costs “override” that increased taxes beyond the 2.5% increase limit,
the latter of which is relatively common in Arlington. The Arlington High School Building Committee estimated that
the 30-year debt exclusion would result in an annual impact to residents that would peak at roughly $500-800
(for the average assessed value of a condominium