The Fall River City Council will hold a public hearing and may vote on the proposed real estate tax rates for residential and commercial property owners next week. It looks like residents will be paying more in taxes for FY 2026.
In setting the rate, the council can shift the burden of taxation to commercial property owners to the highest allowed factor of 1.75. At that level, he residential tax rate would be $11.48 per $1,000 valuation, up from $11.45 for FY 2025. The commercial rate would drop to $23.58 per $1,000 valuation, compared to $23.83 last year.
The median home value across the city is up from a year ago. The median value of a single-family home in Fall River is now $406,237, compared to $385,588 a year ago. The median value of a two-family home is now $452,922, versus $419,166 last year. The median value of a three-family home is now $544,564, up from $506,718, for FY 2025.
Based on the rate of $11.48 per $1,000 valuation, the median-valued single-family home will receive a yearly tax bill of $4,664, up from $4,415 in FY 2025. The owner of a median-valued two-family home will see an annual tax bill of $5,200, up from $4,799 a year ago. The median-valued three-family home will see a yearly bill of $6,252, up from $5,802 in FY 2025.
The city council’s public hearing on the tax rates will be held on Wednesday at 5:55 pm in city council chambers.
As a retired 70. Year old, the taxes are killing me .