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New Bedford City Council Sets Lower Tax Rates for 2021
NEW BEDFORD - The New Bedford City Council on Wednesday approved a lower tax rate for residential and commercial property owners in the 2021 fiscal year.
But with residential property values increasing by more than five percent on average, homeowners in New Bedford may still end up paying a little more in property taxes this coming year.
“Our job is to report the (real estate) market,” Michael Motta, the administrative assistant to the Board of Assessors, said during the City Council’s tax classification meeting, which was held virtually Wednesday evening.
Saying that they were looking to minimize the tax burden on New Bedford residents, city councilors voted 10-1 to approve a residential tax rate of $15.59 and a commercial rate of $32.76 per $1,000 valuation.