The Bedford Select Board is scheduled to host the annual public hearing on classifying the town’s real estate taxes on Monday at 7:10 p.m. at a Town Hall hybrid session.
And from this hearing, it is expected that tax rates for the current fiscal year will emerge.
State law permits cities and towns to tax different classes of property at different rates. Bedford has classified commercial and industrial taxpayers at a rate 175 percent higher than residential – the maximum allowed – since the system was implemented.
At the hearing, the Board of Assessors will provide data on the proportion of taxes paid by residential and commercial/industrial – with and without classification.
Based on their computations, the assessors will present projected tax rates. Since the fiscal year began on July 1, tax bills for the first two quarters of this year have reflected an extension of last year’s rates.