Beverly Council Sets Maximum Tax Shift Factor, Limits FY22 Levy to 1.5 Percent

BEVERLY -- December 6, 2021, Beverly City Council votes 7-0 to cap FY22 property tax levy at 1.5 percent and set maximum commercial shift factor. The council Monday unanimously approved a residential classification factor of 89.1009 percent, translating to the state-maximum 1.75 commercial factor, after Chief Assessor Peter Caron reported that single-family values rose about 8 percent while commercial values held flat due to COVID-19, pushing the residential share of the tax base from 76.8 percent to 87.3 percent. Mayor Michael P. Cahill read a letter into the record announcing the administration would raise the levy by only 1.5 percent rather than the allowed 2.5 percent, delivering roughly $1.1 million in tax relief and holding the average single-family increase to $297 rather than $365. The council also approved a $205,547 budget transfer to fund a new three-year firefighters union memorandum of understanding, and voted to schedule a December 20 public hearing on a proposed conservation restriction at Moraine Farm, a project that could require a Community Preservation Act appropriation of up to $1.1 million.