The Town of Dartmouth’s tax rates have been set for another year.

During its Nov. 28 meeting, the Select Board unanimously voted to set a 1.75% “shift” for 2023.

A shift is a unit that defines how much of the taxes can be shifted onto commercial and industrial properties. This latest shift is the highest the board can set under state law.

Under the new rates, commercial properties will pay an estimated $17.62 per $1,000 of value, up from $17.48 set last year. 

An average commercial property with a $500,000 value will be assessed at $8,915.72, according to Interim Director of Budget and Finance Gary Carreiro. This represents a 1.2% increase.

Residential rates will be at $8.78 per $1,000 of assessed valuation, down from $9.40 set last year. According to Carreiro, this translates to an average of $3,696.38 in property taxes for the median homeowner, the value of which is set at around $421,000 — a 3% change from the 2022.

Overall, the town’s assessed value is over $7 billion, representing a 10.46% increase from last year’s value. As a result, the overall tax levy will be $72,508,201.

The Select Board also approved a 10% small commercial business exemption, which the board has approved for the past several years.

“This to me is probably the fairest factor that we have as an option,” said Stanley Mickelson, who acted as the Select Board’s chair for this meeting. “[We’re] trying to make this as equal as possible in these tough times.”