Milford To Set 2021 Tax Rate, 2.3% Increase On Table

MILFORD, MA — Milford will soon set the 2021 tax rate, and officials are proposing a slight tax increase across the board, including for residential property owners.

The Board of Assessors will host a public hearing on the new proposed rates on Nov. 16. The town is proposing a residential rate of $15.98 per $1,000 of assessed value, up from $15.96 per $1,000 in 2020. Although only a 2 cent rate increase, that will equal a $125 annual increase for the owner of an average priced home of $348,700.

Like many communities in Massachusetts, Milford typically elects to shift the tax burden away from residential owners and onto commercial and industrial properties. The town is recommending a CIP rate shift of 1.58 for 2021, the same as 2020.

With a CIP shift, residential property owners shoulder about 68 percent of the total tax levy. Without a CIP shift, homeowners would pay about 80 percent of the total, meaning much higher property taxes.

The trade-off is a higher tax rate for commercial properties. In 2021, the commercial rate recommendation is $29.69 up from $29.64 in 2020. That equals a $557 increase for the owner of a commercial property at the average value of $938,400.

Here's a look at what tax bills in Milford might look like in 2021:

The tax classification hearing will be held at 7 p.m. on Nov. 16. The Board of Selectmen will ultimately vote on the 2021 tax rate, with final approval coming from the state.

Correction: An earlier version of this story listed the incorrect start time for the tax classification hearing on Nov. 16.