ANDOVER — Selectmen are expected to set new tax rates for residents and businesses tonight.
The new rates will cover the current fiscal year, which began July 1.
Each year, it is the selectmen’s responsibility to determine how taxes will be split between residents and businesses in town. A public hearing was held on the possible changes last week and the board is scheduled to take a vote at tonight’s meeting.
Last year, the average single-family homeowner paid $ $7,786 in property taxes, the average commercial property owner paid $47,142, and the average industrial property owner paid $82,729, according to the town assessors office.
No residents or business representatives spoke at the public hearing.
Homeowners paid $14.15 for every $1,000 of value to their property last year, compared with $23.54 for commercial and industrial property owners.
If the tax rate ratio between residents and businesses were to remain the same, the average single-family property tax bill would rise to $7,978, an increase of about 2.5 percent.
Commercial property owners would be taxed, on average, 2.1 percent more, and industrial property owners would see a 1.9 percent increase.