NAHANT — The Board of Selectmen voted unanimously to adopt a factor of 1, or 100%, to tax all properties in town for fiscal year 2025 during a tax-classification hearing Tuesday night.
By choosing a factor of 1, all types of property, whether residential, commercial, or personal, will be taxed at the same rate.
“Traditionally, you have always adopted a factor of 1,” Town Assessor and Planning Board Chair Sheila Hambleton said to the selectmen.
The board also voted unanimously against the implementation of a residential exemption, commercial exemption, and senior means-tested exemption.
According to Hambleton, only 15% of Nahant’s residences are categorized as non-owner-occupied, with the remaining 85% being owner-occupied. As a result, the town has traditionally voted against adopting a residential exemption. Similarly, the commercial exemption is also usually not implemented due to approximately 3% of properties in town qualifying for it.
While the board also voted against the senior means-tested exemption, Hambleton explained that she must put forth an article at the next Town Meeting that would give residents the option to decide whether the selectmen can apply the exemption.
