Seekonk to Set New Tax Rates

Town officials met on November 12 to set the new tax rates for 2026.

According to Lydia Cordeiro, the Town Assessor, FY’2026 total residential values increased by 7.2 percent from last year. FY’2026 total commercial values increased by 2.1 percent. Industrial values increased by 3.8 percent from last year.

The current residential tax rate is $12.35. The current commercial/industrial rate is $26.35. The current personal property rate is $26.31.

The Select Board approved a shift of 1.745 with a 10 percent commercial exemption.

With a 1.745 percent shift in the residential tax factor, anyone who owns a home worth $375,000 will be paying $4,601 in taxes. Anyone who owns a home worth $475,000 will be paying $5, 828 in taxes.

The median home value is $558, 473. The previous year’s amount was $521,924.

Cordeiro also presented a list of the top ten taxpayers for the FY’25 year. Algonquin Gas Transmission paid $1,006,012.84 for personal property. Others on the list included ET Seekonk, LLC with $848,821.26, RI Seekonk Holdings LLC, the owner of Greenbrier Condominiums with $765,201.46, Seekonk Square Realty with $738,474.56, Seekonk Shopping Center which owns BJ’s, $702, 928.41, Massachusetts Electric with $556, 477.84, Eversource Energy which paid $542, 024,15, and S/J/L Commerce Way, LLC which owns Target Plaza, $349,111.15.

In addition, 17 commercial properties qualified for small commercial exemptions. These exemptions are granted to businesses with less than 10 employees and an assessed valuation of less than $1 million. The exemption does not exceed 10 percent of the value.

The state’s Department of Revenue reviews and approves the town’s values annually, completing a full audit or classification every five years. If the town’s values are not deemed “market value” they will not be approved, Cordeiro added.