Neil Zolot / Correspondant
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Taxes for Medford businesses are on the rise.
The Medford City Council on Dec. 8 set the fiscal year 2021 tax rates, lowering residential property taxes, but shifting more of the burden onto commercial and industrial classes.
Medford's tax rates will be set at:
• Residential property — $9.41 per $1,000 of value
• Commercial, industrial property — $18.05 per $1,000 of value
An even split of the tax factor would have put both at $10.32 per $1,000.
Councilors said while they agree that shifting the rates from residential to business makes sense, it could also be detrimental in the future.