Home values continue to plummet in Middleboro, but the tax rate rise is rising again, and now homeowners will have to ante up an average of $127 more to pay their 2014 real estate tax bill.
But Middleboro is still a good value for business. Town Manager Charles J. Cristello says Middleboro’s commercial rate is competitive with surrounding towns.
The residential tax rate rose to $15.60 per thousand, $3.71 over last year, and Middleboro’s commercial rate was set at $16.59 per thousand.
Assessor Barbara Erickson said the average home, valued at a little over $258,000 dropped to $254,600. But the drop in value won’t help homeowners struggling to make ends meet because tax bills are on the rise.
Erickson expects state approval of the new rate by Thanksgiving and the tax bills to be mailed by the second week in December.