Cost of Business in Everett Stands Strong in Local Cities Comparison

Cost of Business in Everett Stands Strong in Local Cities Comparison

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In a recent study conducted by the Assessor’s Office, similar sized businesses in Everett, Revere, Chelsea, and Malden were compared regarding value, tax bills, water rates, yearly water bills, trash removal costs, and overall cost of conducting business. 

Two property types were compared.  The first were restaurants with average finished areas of 1660 square feet, and the second were factory/warehouse facilities with an average of 10, 973 square feet. 

In terms of restaurants, in Everett the value of such a facility is approximately $266,100 with a tax rate of $43.04, a tax bill of $11,452.94, a water rate of $9.25 and a total water bill of $1,942 yearly, and a trash program that includes one free disposal bin and additional bins for rent at $200 per year.   All of these items add up to an estimated cost of $13,594.94 a year to conduct business, with the assumption of renting two additional trash bins. 

Everett fared well compared to similar sized restaurants in Revere, Chelsea, and Malden.

Although Revere’s tax rate is $31.56, the average cost to do business for a similar sized restaurant is still $14,260, and their tax bill a similar $11,932.84.  These numbers are due in part to their staggering commercial water rate of $21.08, which results in a $4,363.56 yearly water bill.  Revere also does not provide any commercial trash pick-up.  Their cost of doing business assumes the average price of a bi-weekly pick-up of a 2 yard dumpster.

In Chelsea, whose tax rate is $34.20, similar restaurants pay approximately $12, 530.88 a year in taxes, with a water rate of $12.13, a yearly water bill of $2,510, $1,216 a year in trash removal fees – all of which combine for a $16,256.88 cost of doing business.

Over in Malden, where such a property is closer in assessed value to those in Everett (approximately $273,900 for a 1675 square foot restaurant), the cost to do business is still slightly higher than Everett, despite their lower tax rate of $25.42.  Their yearly cost to do business totals in at $13,691.  This is due to their $17.93 water rate, their $3,765 annual water bills, and trash removal costs that include the bi-weekly pick-up of a two yard dumpster. 

Similar trends were seen when comparing factory/warehouse facilities.  Everett’s tax rate is slightly higher, but its water rates and trash removal fees are minute compared to surrounding communities, making Everett a competitive place to do business. 

 - Original story published Thursday, May 9th, Everett Leader Herald News & Gazette

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