By Celeste Katz Marston — Celeste@concordbridge.org
Residents who support — or oppose — Concord’s new residential tax exemption can air their opinions at a town-sponsored forum scheduled for Monday.
The policy enacted last year by the Select Board sets a 10 percent exemption on owner-occupied single-family homes and condominiums.
Homeowners can apply for the tax break regardless of property value or income. For every successful applicant, the town deducted 10 percent of the median value of a Concord home — or about $143,000 — before taxing the property.
The net outcome for lower-valuation homes was a tax break, but it represented a hike for more expensive homes because the property tax rate went up.
Fans of the exemption say it’s a progressive measure that saved taxpayers $1,800 on average and could help both fixed-income seniors and lower-income residents stay in Concord, which has limited policy options to achieve that goal.
But foes say the policy may actually hurt seniors with high-value homes while handing out breaks to residents who may not need it. They also say there are other income-related tax relief options available that make more sense.
Select Board Chair Mary Hartman said in the planning stages, Monday’s forum was slated to cover a variety of other factors affecting fiscal year 2024 tax bills, including debt payments for the new middle school and increased town spending, using specific examples of how homes at various assessed values.
The forum will also give an overview of past tax fairness measures in Concord.
“Anyone who wants a better understanding of the impact [the exemption] had on their property tax bill should come to the forum,” Hartman said.
The forum is scheduled for Monday, September 30 at 6 p.m. at the Town House, 22 Monument Square, and on Zoom at bit.ly/3Mz5wat. The meeting ID for the Zoom is 849 3505 8751 and the passcode is 654399.
