The Town of Lakeville Select Board voted Nov. 25 to set the residential factor at 1 — effectively maintaining a single tax rate for fiscal year 2026 — after a statutory tax classification hearing and an assessment presentation.

John Oliveri, chairman of the Board of Assessors, introduced interim principal assessor Harold Scheid, who summarized the assessors' analysis and recommendation to continue a single rate. Scheid said the town is “raising $30,929,229 in tax revenue” for FY2026 and projected a tax rate near $9.74 per $1,000 of assessed value, noting that residential property accounts for roughly 89% of the town’s valuation and that “to get any sort of a significant residential tax rate reduction would require, really, a very significant increase in the commercial tax rate.”

Mike (assessor staff) told the board a late state update to new growth changed the levy calculations by about $1,417 and supplied an updated raised‑levy figure in a supplemental handout. Scheid cautioned that the Department of Revenue could alter the certified rate by “a penny or two” when it completes the town’s annual tax recap.

Resident Noelle Willow asked whether the packet figures meant her payments would rise by roughly $353 per quarter; assessors urged residents to call the assessor’s office for the newly certified valuation and said the formula — ‘‘value divided by 1,000 times the tax rate’’ — will yield an individual's annual tax bill. Willow described concern for residents on fixed incomes and suggested the board revisit revenue options including allowing retail cannabis.

After questions and discussion, a board member moved to close the hearing and set the residential factor at 1 with a corresponding CIP shift of 1, “pending approval of the town’s annual tax recap by the Massachusetts Department of Revenue.” The motion was seconded and passed by roll call.

The board directed staff to post the assessor’s calculator and updated property record cards to Lakeville’s website and GIS system and to distribute the calculation formula via the town email list once property records are updated.

What happens next: The town will submit its annual tax recap to the Massachusetts Department of Revenue for certification; the final certified rate could differ slightly from the $9.74 figure presented. Residents who want an estimate were advised to contact the assessor’s office for the updated valuation and a personalized calculation.