The board examined the implications of maintaining a single vs. a split tax rate, acknowledging that Lakeville has traditionally opted for a single rate. The board noted that changing to a split rate would necessitate an increase in the commercial tax rate to achieve any notable reduction in residential taxes. Given the makeup of Lakeville’s commercial sector, which includes many small, local businesses, members expressed concern that a split rate could disproportionately impact these entities without providing substantial benefit to residential taxpayers.

The Lakeville Board of Assessors also addressed new growth revenue, reporting that new growth revenue has been tabulated at approximately $200,000, slightly below the town’s projection of $220,000. Although this shortfall exists, it is manageable within the budget framework, and discussions are ongoing about future growth prospects, with some projects anticipated to contribute to growth in the coming years.