Watertown council shifts maximum tax burden to commercial property and raises residential exemption to 35% for FY2025

The Watertown City Council on Dec. 10 voted to shift the maximum amount allowed under the town's Home Rule authorization—roughly 174.5%—of the property‑tax burden onto the commercial, industrial and personal property class and to adopt a 35% residential exemption for fiscal year 2025.

Chief Assessor Earl Smith, presenting the classification hearing, told the council that the certified levy limit for FY2025 is about $168,000,000 and that property values had risen substantially, with residential value up an estimated $600 million and commercial value up roughly $200 million. Smith said the combination of new growth and the recommended shift would lower the effective burden on domiciled homeowners while moving a larger share onto the commercial class. "Welcome to the fiscal year 2025 classification hearing," he said during the presentation, summarizing the technical basis for the recommendations.

The assessor's presentation showed projected rate…