NORTH ANDOVER — The average North Andover homeowner pays a yearly real estate tax of $5,830, according to Town Treasurer Jennifer Yarid.
She calculated that number by dividing the number of residential taxpayers, about 10,000, into the total amount that can be raised by real estate taxes on homes, $58,300,334.
Last week, Town Meeting passed an overall budget of $81.3 million, including schools, public safety, public works, health and human services, debt service and interest. That amounts to a 2.63 percent increase over the amount appropriated last year, according to Town Manager Andrew Maylor.
The selectmen will set the new tax rate in November or December, after the assessors have sent their data to the state Department of Revenue. Yarid estimated real estate taxes will rise by between 2 percent and 3 percent.
Based on that estimate, the average North Andover homeowner now paying $5,830 per year will see their bill rise between $117 and $175.
The average North Andover home is now assessed at $400,000, according to Yarid. Based on the residential tax rate of $13.92 per $1,000 of valuation, the annual bill on that property would be $5,568.
North Andover has two real estate tax rates: $13.92 per $1,000 of valuation for homes and $19.16 per $1,000 for businesses.
When the selectmen act on the tax rate later this year, they will decide how to split the residential and commercial rates.
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