Assessed Value by Class shows the recent increases in equalized valuation after a period of stagnancy following the 2008 recession. As the valuation of Lexington’s property increases, Lexington’s total levy limit and permissible debt levels increase.
Average Department of Revenue (DOR) Income reflects the average family’s ability to pay taxes. While Lexington’s real estate valuation (EQV) has increased, the incomes of Lexington residents have not increased apace. Therefore, some families may be pinched by increasing taxes.
Average tax bill shows increases which are already occurring in Lexington property taxes.
Charts are directly sourced from municipal trends at the Massachusetts Municipal Data Bank.