Public Hearing on Property Taxes Scheduled for Feb. 4

With a revaluation of properties scheduled for 2014 amid a booming real estate market, some are concerned property taxes in Somerville will increase.

Credit: Patch.com
Credit: Patch.com
The Somerville Board of Aldermen's Finance Committee is scheduled to hold a public hearing about real estate taxes and property assessments.

The hearing will take place Feb. 4 at 6 p.m. at City Hall. Members of the public are invited.

It comes after a number of businesses in Somerville, particularly in Davis Square, complained of dramatic increases in property taxes in their most recent tax bills.

See: Davis Square Restaurants See Monster Tax Increase, Say Aldermen >>

In addition to commercial property owners, residents, too, have complained about higher property assessments, which have led to higher tax bills, a number of aldermen have said.

The city will conduct a state-mandated revaluation of property in 2014, and because Somerville has seen a booming real estate market in the past couple of years—with the average value of single-family homes higher than during the real estate market's peak in 2007—some are concerned property assessments, and taxes, will skyrocket as a result.

Perviously, the city held informational sessions on property assessments.

The deadline for appealing property tax assessments is Feb. 3.

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