Economic development has been a significant topic of conversation here in Southborough in the face of rising property taxes. Turns out we’re not alone. The Boston Globe last week reported on efforts The Boroughs – Marlborough, Northborough, Southborough, and Westborough – are making to encourage existing and new business in the region.
Reports the Globe:
“I think our region collectively wants to be a competitor to Cambridge and Greater Boston and the 128 belt,” added Michael Berry, an aide to the mayor. “That’s what we’re trying to do out here. We’re certainly united by those things. I think each community offers something a little bit different, but the fact that each of us is having success with different businesses in different ways speaks well of the region as a whole.”
For its part, the Southborough Board of Selectmen voted earlier this month to establish an ad hoc business development committee. The decision to form the committee followed a report that suggests Southborough is looking at increased expenses and decreased revenue over the next five years.
The original deadline to volunteer for the economic development committee was February 6, but the deadline was extended through today (February 20). For more information, see this post.
This article is a riot.
Let us not overlook the fact that Westborough is giving tax breaks to companies while the residents paid a tax rate of $19.21 per thousand which is the 9th highest residential tax rate in the state. I suggest the residents of Westborough look to Burlington which has similar property values and development base. The tax rate there is $11.55 because Burlington uses its commercial and industrial base to help its residents.
The quote from Northborough really interesting.
“Northborough Town Administrator John Coderre said his town is “in terrific shape” and that he’s had recent contact with businesses interested in developing there. “We continue to be a very desirable location,” he said. Coderre noted that businesses in town pay the same tax rate as residents, which is not the case for some communities with significant commercial development.”
To bad Mr. Coderre did not know about the $11,000 hit to property values which negated the benefit of the Northborough Crossing development and resulted in the tax rate increasing from $15.49 to $16.11. Does industrial and commercial development suppress residential property values, absolutely yes. Did the Northborough Crossing cause the $11,000 drop, only time will tell for sure, but it certainly won’t help in the recovery.