Since 2015, the city of Cambridgeâs tax rate has decreased, and following the cityâs Truth in Taxation meeting on Dec. 3, residents learned it will once again decrease in 2021.
Director of Finance Caroline Moe explained the cityâs proposed 2021 tax levy is set at $5.56 million, which is a 2% increase in property taxes from last year. However, due to increases in the cityâs tax base, the city tax rate is expected to go down 2.5%, which means if a property ownerâs valuation stayed the same as last year, the city portion of their property taxes would go down 2.5%. The proposed 2021 tax rate is set at 73.1%, compared to the 2020 tax rate of 75.2%.