DEERFIELD — On a recommendation from the Board of Assessors, the Selectboard adopted a single tax rate for fiscal year 2025 of $13.25 per $1,000 valuation on Wednesday evening, an approximately 4.3% decrease from FY24.

Sticking with past practices, the Selectboard opted to retain a single tax rate for all properties in town, rather than set one rate for residential properties and another rate for commercial and industrial properties.

Selectboard Chair Tim Hilchey, who added that Deerfield has experienced $271,000 in new growth for FY25, said town officials wanted to stick with the single tax rate, as setting a higher rate for commercial properties — which would include small businesses and farms — would be a “major disincentive.” Residential taxes make up about 75% of all tax revenue in Deerfield, according to the Board of Assessors.

“We, historically, in Deerfield have not done that,” Hilchey said.

Tax rates have been a major discussion point among residents in recent years, particularly in the lead-up to the spring town election, and new businesses, such as Tree House Brewing Co. and Nupro, have moved into the community. Hilchey and fellow Selectboard member Blake Gilmore, though, emphasized that a higher commercial and industrial tax rate would affect the smaller businesses in town much more than the large ones like Tree House.

“I also think that would be a deterrent for new businesses,” Gilmore said.

“To do anything else would really hit our farmers first,” Hilchey said. “Whether Tree House can afford it is irrelevant.”

While the tax rate set by the town has decreased since fiscal year 2022, residents should still expect an increased tax bill, as property assessments in Deerfield have increased by about 9%, according to Board of Assessors member Francis “Skip” Sobieski.

Sobieski said the average single-family home’s tax bill will rise to about $5,901, which is an approximately $240 increase from FY24.

“Even though the tax rate is going down about 60 cents from last year, the average assessments have gone up about 9% from last year. … The average tax bills will be going up about 4%,” Sobieski said, adding that property assessments have “gone up substantially over the last two years.”

Sobieski said any residents who are interested in learning more about their assessments can reach out to Assessor’s Clerk Karen Menard at Town Hall, who will be able to provide a “detailed breakdown.”

With no public comment — there were only four residents in attendance on Zoom — the Selectboard approved the $13.25 per $1,000 valuation with a 2-0 vote, as Trevor McDaniel was absent.

Chris Larabee can be reached at clarabee@recorder.com.