NAHANT — The Board of Selectmen voted unanimously to make no changes to the town’s tax structure on Tuesday, setting the fiscal year 2024 tax rate at $9.07, which officials touted as one of the lowest rates in the county and a two-cent decrease from the previous fiscal year.
The selectmen set a residential factor of one and, at the recommendation of Town Assessor Sheila Hambleton and the Board of Assessors, declined to adopt a number of available exemptions or a discount for open space. Hambleton said that the residential factor being set at one means one rate is set for the residential, commercial, industrial, and personal property classes in town.
The board could vote to set a different factor and thus shift the tax burden, but with 96.2% of the town’s property being classified as residential, Hambleton said there was little to no reason to do so.
“It doesn’t make a lot of sense at this time with that disparity between the different classes of property, where it would shift burden and give a tax break to others,” she said.
The selectmen also announced the excess tax levy capacity for the current fiscal year, which was calculated at $4,138.65, meaning the town is that number short of the maximum levy limit. The excess levy capacity for the previous fiscal year was more than $10,000.
“If our tax rate went up even one penny, we would end up being over our levy capacity and therefore in violation of the 2.5%,” Town Administrator Tony Barletta said. “Our tax is as high as it possibly can go, even though we’re leaving about $4,100 on the table.”
With the tax rate set Wednesday, residents can now expect to receive their tax bills on Oct. 2, which will then be due Nov. 1. Barletta said the town made a concerted effort to get the bills out earlier this year to avoid burdening residents during the holiday season by sending them out in early November.
Hambleton noted that the structure approved Wednesday evening represents no change from prior years.
“It’s been unchanged forever I think, at least 40 (years),” Hambleton said.
