Worcester Business Journal

October 25, 2021-Fact Book

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wbjournal.com | October 25, 2021 | Worcester Business Journal 13 R E A L E S T A T E F A C T B O O K 2021 Central Mass. property tax rates, by community Rate per $1,000 in assessed value Commercial Residential & industrial Greater Worcester Oakham 13.02 13.02 Shrewsbury 13.19 13.19 Leicester 15.13 15.13 Hardwick 15.73 15.73 Rutland 16.7 16.7 Boylston 16.98 16.98 Holden 17.4 17.4 New Braintree 17.47 17.47 West Boylston 18.46 18.46 Paxton 19.73 19.73 Auburn 18.14 22.25 Worcester 16.28 36.2 Commercial Residential & industrial Natick 13.61 13.61 Franklin 14.65 14.65 Ashland 15.93 15.93 Southborough 16.21 16.21 Hopkinton 17.08 17.07 Northborough 17.12 17.12 Boxborough 17.17 17.17 Medway 17.46 17.46 Holliston 17.85 17.85 Wayland 18.52 18.52 Westborough 18.54 18.54 Millis 19.62 19.62 Sherborn 19.63 19.63 Stow 19.98 19.98 Acton 20.23 20.23 Bellingham 14.41 20.58 Bolton 20.86 20.86 Marlborough 13.8 24.47 Sudbury 18.83 25.55 Berlin 15.58 25.95 Maynard 20.15 26.81 Littleton 17.7 27.44 Milford 15.98 29.69 Framingham 14.05 30.09 Hudson 16.59 33.16 MetroWest report. "It's a great opportunity for retail conversion because most of these retail centers were really conveniently located," said Alexander. "When you convert them to commerce distribution centers and you've got that network of roadways that are already in place, it makes it easy to convert." e increase in such developments has blurred the line between online and in-person retail, as well. While brick- and-mortar businesses built out online presences during the pandemic, online retailers have been moving in the other direction. is reflects a surge in omnichannel shopping, which means all types of cus- tomer interactions including online shop- ping and in-person methods, like curbside pick-up. Nearly 22% of online orders in the U.S. were filled using omnichannel methods in 2020, a 14-percentage point increase from five years ago, according to a report from Canadian real estate company Colliers International. Amazon an- nounced plans in August to open a 4-star retail store in the Shoppes at Blackstone Valley in Millbury and is set to open an Amazon Fresh grocery store in West- borough. A new look for in-person shopping While consumers are still looking to buy in-person, they aren't looking for the same experience they were 10 years Commercial Residential & industrial Central Mass. South Dudley 12.3 12.3 West Brookfield 14.03 14.03 Spencer 14.04 14.04 East Brookfield 14.83 14.83 Charlton 15.01 15.01 Webster 15.1 15.1 North Brookfield 15.74 15.74 Warren 15.96 15.96 Oxford 16.53 16.53 Brookfield 17.99 17.99 Sturbridge 19.02 19.02 Southbridge 19.44 19.44 Source: Massachusetts Department of Revenue Developments in Worcester and Westborough where retail space is converted into industrial and medical use. Leominster Mayor Dean Mazzarrella Continued on page 15 PHOTOS/GRANT WELKER

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