Brookline's property tax rates are going down, but most homeowners can still expect their tax bills to go up.
Selectmen Tuesday voted in favor of setting the residential tax rate at $11.39 for Fiscal Year 2014, down from a rate of $11.65 per thousand dollars of value in Fiscal Year 2013. The commercial tax will also decrease from $18.97 to $18.50.
But because property values have been appreciating in Brookline, most residents can still expect their taxes to increase.
The median single family home in Brookline is now valued at $1,114,000, which is up from $1,071,750 last year. Almost 90 percent of single family homeowners qualify for a residential exemption, but they can still expect their tax bills to increase by about $163, according to the town’s Assessors Department.
Taxes on the median condo valued at $447,000 will increase by about $138 for owners that do not qualify for a residential exemption.
Property taxes on the median commercial property valued at about $1,171,800 would increase by about $1,084.