Government
Council Upset That Property Taxes Will Rise Despite Big Increases in Commercial & Industrial Tax Revenue
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Watertown Assessor Earl Smith had some good news for the City Council Tuesday night that new development has brought in several million in new tax dollars. However, what stood out most was the bad news that he had for homeowners — a property tax increase for Fiscal Year 2022. The new life science developments in Watertown will bring in millions of dollars of new tax revenue for the City but due to the restrictions of the state law regarding shifting the tax burden away from residential properties, the average residential tax bill will rise by $287 or 4.3 percent, Smith said. The total tax levy for the City of Watertown in Fiscal Year 2022 will be $134.4 million, Smith said. The increase would have been more if the Council did not approve an increase in the amount of the Residential Exemption, given to owner-occupied properties.







