Andover tax bills rise much faster than home values!

What you said in our recent Taxpayer Survey...

71 percent of respondents ranked the 46 percent increase in Andover property taxes over the past 10 years as "Too High when considering the town services offered, the economy, and inflation."

What the Town Manager said...

At a recent Tri-Board Meeting, TownofAndover.com co-founder Greg Rigby pointed out this 46 percent increase to Town officials.

In an interview with the Andover Townsman, the Town Manager responded that it was because property values also rose. “That’s a tricky argument,” he said, referring to Rigby’s comment. “Taxes are based on the value of your house, among other things.”

What the data says...

In the last decade (see chart above), Town officials raised your property tax bill by 46 percent by increasing the:

• Average Assessed Value of single family homes by 17 percent and 
  
• Property Tax Rates by 25 percent

During the same 10 year period, MLSPIN data reveals that the change in your property's market value did not correlate to the increase in your property tax bill. The above chart shows the following for Andover:

• Average Market Value increased by just 2 percent
• Median Market Value increased just 7 percent

What do you say about this?

Let us know what you think by posting a comment below or by visiting TownofAndover.com to email us by clicking the icon at the page top.