Property taxes to rise slightly in Saugus

SAUGUS – The town of Saugus will see its tax rate rise slightly next year, but Deputy Assessor Ronald Keohan said rates will still be the lowest in the region.Keohan presented the town?s new tax classifications to the Board of Selectmen Tuesday night and said the shift from residential to commercial will once again be at the maximum allowed by law.?Historically Saugus has always shifted to the max,” said Keohan. “If we shift as we?re allowed by law, our tax rates will go up 24 cents which is still the lowest tax rate in the region. The commercial tax rate will go up 74 cents, which is also one of the lowest rates.”According to Keohan, residential rates will be set at $11.28 next year while commercial rates will be set at $24.90. This will see the projected 2013 average single family tax bill rise around $83 to $3,671.The projected commercial tax bill will rise $965 to $37,534 for 2013, according to Keohan.Average single family home values increased $500 to $325,500 for 2013 while commercial property values are projected to be at $1.50 million for 2013, about a $6,000 drop from last year.Selectman Debra Panetta asked Keohan why there wasn?t more money being generated by businesses on Route 1, to which he noted “62 percent of all property in town is residential.”?People think, because of Route 1, there?s so much. But once you leave Route 1, there?s nothing in town for commercial property,” he said. “We?re looking at trying to bring other businesses in ? but keep in mind, at $11.28, we?re still the lowest tax rate in the region.”The board voted to accept the recommendations from the Board of Assessors.Matt Tempesta can be reached at [email protected].