The chances of Natick adopting a split tax rate in the near future are just slightly higher than those of the town rebuilding the Charles River spillway. But the Select Board pledged during the $7m override discussions last year that it would explore all avenues for cost savings and new revenue opportunities, and that has included a deep dive into single vs. split property tax rates.
“This board has been historically, fervently single rate and supported a single tax rate, and I think all of us still do” Board Chair Kathryn Coughlin said toward the end of the board’s latest discussion on this issue at its Sept. 2 meeting. “But we made a commitment to residents who asked us to consider this…”
Natick currently has a single tax rate—residential and commercial property owners pay the same rate ($12.17 per $1,000 of value). Some communities that have a larger commercial base charge organizations a higher rate than residents (see tax rates across Massachusetts communities). In Natick, residential property taxes account for a bit more than four fifths of the pie, and the Select Board will once again this November vote on what’s referred to as the “residential factor.”…