West Tisbury selectmen voted to keep the same tax classification, a single rate for both commercial and residential properties, for the current fiscal year.
The town has a single tax rate for all classes. This year, that will decrease from $6.18 to $6.07. The rate is going down because there is a 2.5 percent increase in the overall levy, and a 4.1 percent increase in total town value. For a property valued at $500,000, taxes will decrease by $55, from $3,090 to $3,035.
Each year, West Tisbury has four options to shift its tax rate: A split tax rate between residential and commercial classes, an open space exemption, a residential exemption, or a small commercial exemption.
Selectmen voted unanimously to keep the single tax rate, but said things won’t change much.
“It should be clear just because the tax rate is going down, your tax bill will remain the same,” selectman Jeffrey (“Skipper”) Manter said.