The municipal levy imposed on actual property inside the metropolis of Somerville, Massachusetts, is set yearly and expressed as a proportion of the property’s assessed worth. This levy funds important metropolis companies resembling faculties, public security, and infrastructure upkeep. For instance, a fee of 1.5% on a property assessed at $500,000 would end in an annual tax of $7,500.
This municipal cost performs an important function in funding the operational funds and capital enhancements inside the neighborhood. The steadiness and predictability of this income stream permits town to take care of service ranges and plan for future investments. The speed’s historic trajectory can provide insights into town’s fiscal well being and priorities over time. Fluctuations can mirror shifts in budgetary wants, financial situations, and native property valuations.
