TOWN OF NATICK Housing Production Plan

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$600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 2000 Table 25 TOTAL SINGLE FAMILY ASSESSED VALUE Fiscal Year Total Assessed Value % Change 2000 $1,777,697,130 4.5% 2001 $2,289,947,900 28.8% 2002 $2,420,575,900 5.7% 2003 $2,656,412,250 9.7% 2004 $3,385,118,600 27.4% 2005 $3,409,513,000 0.7% 2006 $3,831,877,700 12.4% 2007 $4,163,886,500 8.7% 2008 $4,074,410,000 -2.1% 2009 $3,980,497,800 -2.3% 2010 $3,828,720,700 -3.8% 2011 $3,735,204,600 -2.4% 2012 $3,665,889,700 -1.9% Source: Massachusetts Department of Revenue Figure 8 Natick Average Assessed Value 2001 2002 2003 2004 2005 Source: Massachusetts Department of Revenue Tax Rate and Tax Bills Natick has a single tax rate for residential, commercial, industrial and personal properties. This fiscal year, FY2012, the tax rate is $13.91 per $1,000 of assessed valuation (Massachusetts Department of Revenue). 40 | P a g e L D S C o n s u l t i n g G r o u p , L L C 2006 2007 2008 2009 2010 2011 2012
Tax Rate 21 19 17 15 13 11 9 7 5 2003 2004 2005 2006 2007 Figure 9 Tax Rate Year 2008 Source: Massachusetts Department of Revenue Figure 9 shows that the tax rate in Natick has been on a steady incline since FY2007, when it was at the lowest point ($9.58) in the past ten years. The tax rate declined between FY2003 and FY2004 by 17.5%; saw a small increase of 4.2% in FY2005, and then continued declining between FY2006 and FY2007. Among its neighboring towns, Natick has been in the middle of the group, but significantly lower than the municipalities with the two highest tax rates, Wayland and Sherborn. Wellesley has the lowest tax rate in the area. The purpose of this paragraph is to show that taxes are considered a real estate expense related to the cost of housing. The rise and fall of real estate tax rates affects persons on fixed incomes and their ability to afford and maintain housing. As shown in Figure 10 below, the average single-family tax bill in Natick, its neighboring towns and the Commonwealth of Massachusetts has been steadily increasing since FY1990. The average tax bill in Natick has risen from $2,091 in FY 1990 to $6,015 in FY2012. This is a total increase of 187% or an average increase of 4.9% a year (Massachusetts Department of Revenue). This increase is higher than the statewide median tax bill which has grown by 165% since FY1990; however, the average growth rate for the state is 4.8%, only slightly lower than the average growth rate for Natick. This fiscal year, FY2012, the average single-family tax bill in Natick is 8.2% more than last fiscal year’s average of $5,561 due in part to the addition of two debt exclusions to the property taxes. The statewide median tax bill last fiscal year was $4,537. The statewide median was not available for this fiscal year. Among the towns geographically surrounding Natick, Wayland has had the highest tax bill since at least FY1990, as shown in Figure 10. The average single-family tax bill in Natick has largely been on par with that of Framingham since FY1992 (Framingham tax bill numbers were 41 | P a g e L D S C o n s u l t i n g G r o u p , L L C 2009 2010 2011 2012 Natick Dover Framingham Sherborn Wayland Wellesley Weston
Page 1 and 2: October 5, 2012 TOWN OF NATICK Hous
Page 3 and 4: Housing Type ......................
Page 5 and 6: Glossary of Terms ACS - American Co
Page 7 and 8: Section 1: Executive Summary The To
Page 9 and 10: Definitions According to the United
Page 11 and 12: Housing There has been a consistent
Page 13 and 14: Affordability Gap Like housing valu
Page 15 and 16: Affordable Housing Goals The Town o
Page 17 and 18: Section 3: Demographic Analysis Com
Page 19 and 20: support services and programs. The
Page 21 and 22: Table 2 shows both the percent by a
Page 23 and 24: 1990 2000 HOUSEHOLD GROWTH % Change
Page 25 and 26: MEDIAN HOUSEHOLD INCOME 1990 2000 %
Page 27 and 28: Town Total Families FAMILIES BELOW
Page 29 and 30: Table 15 OCCUPATION BY INDUSTRY FOR
Page 31 and 32: Commute to Work On average, Natick
Page 33 and 34: Table 19 UNEMPLOYMENT RATE IN 2011
Page 35 and 36: YEAR STRUCTURE BUILT Total Percent
Page 37 and 38: Figure 6 below shows the years Nati
Page 39: increased vacancies overall in 2010
Page 43 and 44: outstanding obligation on the speci
Page 45 and 46: Table 28 below shows Fair Market Re
Page 47 and 48: age 60 or older, and in MGL 667 pro
Page 49 and 50: examine new development opportuniti
Page 51 and 52: media center. Every unit has laundr
Page 53 and 54: These units are listed in the Affor
Page 55 and 56: includes 67 affordable units for ho
Page 57 and 58: Table 37 NUMBER OF SALES IN NATICK
Page 59 and 60: Section 6: Demand Analysis Affordab
Page 61 and 62: Rental In Natick, market rents of n
Page 63 and 64: 2-4 PERSON HOUSEHOLD AGES 15-61 201
Page 65 and 66: affordable housing is needed and th
Page 67 and 68: for 2,500 square feet per unit and
Page 69 and 70: on South Avenue, the Clark Houses o
Page 71 and 72: Water and Wastewater Management Con
Page 73 and 74: The next chart identifies the units
Page 75 and 76: affordable housing, regardless of w
Page 77 and 78: on a variety of housing issues. The
Page 79 and 80: Among the projects that have trigge
Page 81 and 82: 6. Buy down existing affordable uni
Page 83 and 84: The locations of the sites are show
Page 85 and 86: 6. Leverage existing funding resour
Page 87 and 88: Table 53 HOUSING STRATEGIES Strateg
Page 89 and 90: Natick DHCD ID # 2063 2064 2065 206
Page 91 and 92:
Appendix B: Natick Zoning Map 89 |
Page 93 and 94:
Appendix C: Smart Growth Overlay Di
Page 95 and 96:
References Aging, C. o. (2012, Marc
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TOWN OF NATICK Housing Production Plan

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