Andover homeowners will see their property taxes increase 3.5 percent in the fiscal year beginning July 1, 2025, following last week’s unanimous vote by the select board.
It was the lowest increase among the three scenarios the board considered, and will result in an average tax bill of $12,671 next year. The board also approved a commercial tax rate increase of 6 percent.
“I think it’s a balance between making sure that we aren’t pushing businesses out of town or keeping them from coming into town because they help offset our residential tax base, but also of our residents and their tax bill as well,” Chair Laura Gregory said. “So as always, there are no easy answers.”
Last year, average residential tax bills rose 5.2 percent, down from 5.9 percent in the fiscal year ended June 30, 2023. The board opted for the higher residential rate for the current fiscal year to offer relief to businesses in Town. The average residential tax bill in the year ending June 30, 2025 is $12,329.