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Walpole's residential property is valued at well over 3 billion dollars. The town would lose $350,000 dollars per year in tax revenue for every 1% decline in residential property values.

Not to worry - the town will not allow itself to lose any revenue. Instead, they will adjust our residential tax rate to make up the lost revenue. This means that homeowners who suffer the least impact to their property values will end up shouldering a greater share of the tax burden. Many homeowners in Walpole will find that their quarterly tax bill increases even as their property values decline.

Source: Walpole 2005 Town Report.

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