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On Tuesday, December 20, 2011 the Medford City Council accepted the City Assessors’ recommendation for property tax rates for 2012. The new residential tax rate is $12.03 while the commercial, industrial and personal property tax rate is $23.72. The Council approved the minimum residential rate needed to fund the city's budget, which was approved in June.
The Assessors present the fiscal alternatives to the City Council to aid in determining the percentages of the tax levy to paid by each class of property. In determining the percentages, the City Council must first adopt a residential factor. The selected factor of .887492 produced a residential tax rate of $12.03 and a CIP tax rate of 23.72.
The rate is determined by the need to fund the city’s budget and is affected by property values. Historically, the average home owner’s property tax increases about $150 per year.
For more information on property taxes, exemptions, abatements, and other related items please visit the Assessors' webpage.
The following information is based upon the average property value in each category. Property tax bills will be larger or smaller depending upon the value of individual properties.
Average Property Tax Bill Increase for 2012
Single Family- $155.78
2-Family- $178.79
3-Family- $176.55
Condo- $136.45
Commercial Property- $81.53
Average 2012 Property Tax Bill
Single Family- $4,179.22
2-Family- $4,555.76
3-Family- $5,389.44
Condo- $3,143.44
Commercial Property- $23,312.02
Average Value Single Family Home
2012- $347,400
2011- $346,550
2010- $357,900
2009- $372,500
2008- $400,300
2007- $407,500
Average Value 2-Family Home
2012- $378,700
2011- $377,000
2010- $387,600
2009- $432,800
2008- $490,500
2007- $501,800
Average Value 3-Family Home
2012- $448,000
2011- $449,000
2010- $465,500
2009- $524,100
2008- $553,500
2007- $552,800
Average Value Condo
2012- $261,300
2011- $259,000
2010- $263,900
2009- $278,400
2008- $289,300
2007- $297,100
Average Value Commercial Property
2012- $982,800
2011- $1,010,900
2010- $1,056,800
2009- $1,050,100
2008- $1,083,800
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