Business Owners: Split Tax Rate Would Be ‘Death Knell’ for Wellesley
The Board of Selectmen, Planning Board and members of Wellesley’s business community discussed what a split tax rate could mean for the town last night.
Members of Wellesley’s business community railed against the possibility of a split tax rate, which would significantly raise taxes for business owners. The agenda for last night’s meeting of the Board of Selectmen included an item intended to spark a discussion about establishing a study committee to address the thinning business presence on Central Street. However, the meeting quickly gave way to a public forum on Wellesley’s tax classification status, with commercial property owners and shop managers leading the charge. Wellesley currently has a single tax rate, meaning all property owners – commercial and residential – pay a tax rate of $11.43 per $1,000 tax bill. Given Wellesley’s tax levy, if the town were to implement a dual - or …
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