By Kate Resnek
The top ten taxpayers in Everett are giving the city a combined amount of about $27 million dollars in property taxes, a review of assessing records at city hall reveals.
These ten taxpayers are as varied as night is from day. They provide a number of different goods and services for the City of Everett and the State of Massachusetts. From one of the largest powerplants in the state, to scrap metal recycling, to banking, investments, and real estate; the top ten taxpayers are a varied group.
The Mystic Power Plant owned and operated by Exelon currently pays the highest property taxes in the city with a yearly tax of $15 million dollars. This they pay for their 66-acre plot of land which is valued by the assessor’s office at around $444 million dollars.
The next highest taxpayer is DDRC Gateway LLC which owns and operates the Gateway Shopping Center on Mystic View Road. In comparison to the Mystic Power Plant however Gateway’s contribution is comparatively more modest at $3.8 million each year for their 97-acre property.
Moving down, the third highest tax payer pays $1.8 million dollars a year for a property that has been assessed at almost $135 million dollars. This would be The Batch Yard apartments owned and operated by Batch Yard LLC.
The Exxon Corporation is next on the list with 5 fueling locations around the city and expected property tax payment of $1.5 million dollars a year total.
The last member of the top ten that pays over $1 million dollars a year is the BNY Mellon investment company with its property on Santilli Highway that is valued at almost $30 million dollars.
The last four members of the top ten list each pay less than $1 million dollars a year but overall contribute another $2.1 million dollars to the city combined.
These are, of course, the number for the last taxpaying year.
In the next year we will see the new casino being assessed and start to pay taxes. This amount is estimated to be about $20 million dollars a year(in lieu of tax payments) which is $5 million more than Exelon has to pay now.
This means that next year the top ten property taxpayers in the city will total closer to $40 million dollars.
This is a steep rise and will certainly allow for changes in the city’s budget and plan for the future.