Monday, December 18, 2017
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    Friday, August 25, 2017 08:53
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    Friday, June 09, 2017 00:00

Top 10 Taxpayers

Square One Mall and Wheelabrator rank number one

and two in what they’ll pay Saugus in 2017 property taxes

So who’s the biggest taxpayer in Saugus? It’s a close competition between owners of the Square One Mall and Wheelabrator Technologies, Inc., with the two companies combining for $5.9 million in property taxes, according to information provided by the town’s Assessor’s Office.

The mall owners’ tax bill will be just $20,000 higher than Wheelabrator’s this year.

“A lot of people don’t realize it, but the mall’s assessed value does not include Macy’s or Sears,” Deputy Assessor Ron Keohan said this week. “If it did, the mall would be paying a lot more in taxes,” he said.

Here are the top 10 taxpayers based on assessed valuation:

1) Mayflower Square One, owner of the town’s shopping mall at 1201 Broadway (Route 1), topped the 2017 list of assessed value at slightly over $114 million. Their taxes total close to $2.94 million – about $20,000 more than the next highest property taxpayer.

2) Refuse Energy Systems Co. Also known as Wheelabrator Technologies Inc., the operator of the trash-to-energy incinerator at 100 Salem Turnpike (Route 107) – with its nine land parcels – has an assessed value of $113.3 million. The company will pay $2.92 million in taxes this year.

3) AvalonBay Communities, Inc. owns an apartment building at 1 Founder’s Way that’s assessed at $73.94 million. Its 2017 taxes are $890,973.

4) New England Power Co. Adding up its electric transmission rows, buildings and personal property, the utility has a 2017 assessed value of $23.3 million. It will pay $601,703 in property taxes this year.

5) Saugus Commons Associates, owner of apartment buildings at 48 and 77 Newhall Ave., has a total assessed value of $22.5 million. But with a residential tax rate, are the lowest on this year’s list – $270,649.

6) Gerondelis Foundation Inc. – owner of the shopping mall and commercial land at 400 Lynn Fells Parkway and several restaurant buildings, including Kelly’s at 595 Broadway – had a 2017 assessed value of $17.1 million. It will pay $440.696 in property taxes this year.

7) Lowes Home Improvement at 1500 Broadway had an assessed value of $16.8 million with a total tax bill of $433,617 for 2017.

8) Shops At Saugus, the strip mall at 352 Broadway, had an assessed value of $15.8 million this year. The 2017 taxes were $407,942.

9) Federal Realty (K Mart). The K Mart strip mall at 156 Main St. was assessed at $15.4 million and will pay $396,517 in taxes this year

10) HD Development, owner of a retail business at 564R Broadway, had a 2017 assessed value of $14.9 million with taxes of $386,517 for 2017.

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