The Wellesley Select Board on Dec. 2 (see Wellesley Media recording) held its annual tax classification hearing and voted as usual to keep a single tax rate for residential and commercial property owners in fiscal year 2026. The rate has fallen to $10.17 per $1,000 of assessed value, though with residential property values continuing to soar, annual tax bills for residents will too (median increase of 4.86%, or $825).
Single tax rates are common in communities like Wellesley where residential properties account for the bulk of assessed property value, and in Wellesley that adds up to about 90% (Natick’s Select Board just voted to stick with a single rate too, and is in the midst of a year-long deep dive into the pros and cons of splitting the rate in the wake of the town’s $7m operating budget override).
Businesses are generally supportive of a single rate, and indeed the Charles River Regional Chamber shared its backing to maintain this in Wellesley. Any shift in the tax rate from residential to commercial under the current scenario would result in a relatively small decrease in tax bills for residents vs. a relatively high increase for commercial property owners (See the state’s list of tax rate by municipality.)
Speaking of taxes… Due to outdated state law, a small amount of your tax dollars was used to publish notice of the hearing in The Wellesley Townsman on Nov. 20. Please encourage town officials to place paid notices regularly on Swellesley, where people are way more likely to see them.
Board of Assessors Chair Arthur Garrity made the tax classification presentation to the Select Board, and illustrated trends that will surprise no one living or working in town or who knows about Wellesley. Single-family property values continue to rise, and are headed to about $15b in aggregate, based on roughly the same number of properties as the year before. The median assessment now tops $1.7m (up about $100k from the previous year), while the average value is now over $2m.
Commercial values actually fell for the third straight year, with general economic conditions and post-COVID-19 pandemic factors contributing to that (certain sectors remain strong though).
In total, the taxable property value in Wellesley for FY26 tops $18b.
The total amount that the town can raise from taxes is based on a 2.5% increase from the previous year, plus new growth (from construction, etc.), and remaining debt exclusion amounts (from school building construction, the North 40 acquisition etc.). That amount is divided by the total property value assessment to come up with the tax rate.
Select Board member Colette Aufranc described the body’s decision on the tax rate as important but not complicated given the make-up of Wellesley’s tax base and residents’ desire to have a thriving business community. Tom Ulfelder added that a split rate could have a very negative impact on commercial properties, such as the Haynes ones being sold, and the rent that could be charged for such space.
The Select Board voted 5-0 in favor of the single tax rate (technically, “a residential factor of 1”).
At one point during his presentation Garrity paused for a refresher on mean, median, and mode. Mean is the average, and you can remember that because “rage” is at the end of the word “average,” and who has rage? Mean people, he said.
