Tewksbury Select Board adopts 1.73 tax factor, sells $6.14 million water bonds

TEWKSBURY — November 18, 2025 — Tewksbury Select Board adopts a higher tax shift factor, trimming the average homeowner's fiscal year 2026 bill increase by roughly $120. The board voted unanimously Tuesday to set a 1.73 minimum residential factor — up from last year's 1.66 — yielding a residential tax rate of $12.56 per thousand and an average single-family bill of $8,609, a $287 increase over fiscal year 2025. Town Assessor Diana Caswell-Havarney and Finance Director Al Rigo told the three-member panel that single-family home values surged 8.9 percent this year, nearly double the prior year's gain, requiring the shift to prevent a heavier burden falling on residents. The town manager recommended levying $117,561,393 rather than the full allowable $118,706,944, creating $1,145,551 in excess levy capacity — a tool made possible by state local aid running $900,000 above projections. The board also authorized on a 3-0 roll-call vote the sale of $6.14 million in general obligation water bonds to Cabrera Capital Markets Incorporated at a true interest cost of 2.3548 percent, with proceeds funding water line replacement and meter upgrades across town.