Somerset assessors take up how next year's tax bill is split between homes and businesses Thursday

SOMERSET Somerset's Board of Assessors meets Thursday, Nov. 5, at 5 p.m. to review proposed shift factors for the town's fiscal 2027 tax rates, a step toward deciding how much of next year's property tax falls on homes and how much on businesses. The same agenda lists a closed session to review Appellate Tax Board case files for New England Power and Brayton Point.

What the split means for a homeowner

Somerset taxes homes and businesses at different rates. Last year homes paid $12.93 per $1,000 of value, and commercial, industrial and personal property paid $25.24, state figures show. The average single-family home was valued at $485,506, and its bill was $6,278, up $1,312 from $4,966 in fiscal 2023.

Under state law, the split sets the percentage of the town's total levy that each class of property carries. In fiscal 2026, commercial, industrial and personal property made up 14.2% of Somerset's $3.77 billion in assessed value and paid about 24.4% of its $55.4 million levy, by our math from the state's values and rates. Homes made up 85.8% of the value and paid about 75.6%.

Had Somerset taxed every class at one rate last year, that rate would have been about $14.68 per $1,000 by the same math. Business property would have paid about $7.9 million instead of about $13.5 million, and the average single-family bill would have been about $7,126, roughly $850 more than it was. Personal property alone, valued at $250.2 million, paid about $6.3 million, or about 11% of the levy.

The state tax board cases

After the shift factor discussion, the agenda lists an executive session under Section 21(a)(7) of the state Open Meeting Law, in which the board will "review Appellate Tax Board case files for New England Power and Brayton Point." An executive session is closed to the public. The meeting notice names the two cases and lists no other closed business.

Where the levy stands

Somerset has taxed well below its legal limit. It raised $55,363,766 last year, $19,182,526 under its maximum levy of $74,546,292, which includes $3,086,700 in debt that voters excluded, state figures show. That gap was $20,361,847 in fiscal 2023. For fiscal 2027 the state has certified $27.4 million in new taxable value, which adds $450,600 to the limit, and the limit before excluded debt rises to $73,696,682 by our math from the state's formula. Fiscal 2027 tax rates for Somerset are not yet on the state's books.

SC360 reported the fiscal 2027 limit and new growth for Somerset and Mattapoisett on Oct. 29.

What happens next

After the assessors' review, state law requires the Board of Selectmen to hold a public hearing and adopt a residential factor before the state approves the tax rate. At that hearing, the assessors must provide the data and "the fiscal effect of the available alternatives," the law says. Last year's rates worked out to a residential factor of about 0.88 and a business shift of about 1.72, by our math, meaning business property paid about 1.72 times its share of the town's value. The Board of Selectmen posts its agendas, including that hearing when it is set, on the town's online Agenda Center.

How to attend

The assessors meet in the Assessors Office, Room 4 on the first floor of Somerset Town Hall, 140 Wood St. The notice says the board's meetings are open to the public and that people who want to attend can call 508-646-2824 for more information. Questions about a single property's value go to the assessors.

Label: Reported by us, from the town's posted records.