Hannah MorseThe Patriot Ledger
WEYMOUTH − The top taxpayers in Weymouth over the past year consisted chiefly of utilities and apartment complexes. No. 1? The Fore River power plant owner, Calpine.
For fiscal 2024, which started July 2023, Weymouth charged $136,371,826 for property taxes.That includes residential, commercial, industrial and personal property. Last year's property tax revenue amounts to a 4.4% increase over the previous year.
The town’s tax rates have been declining for 10 years. The residential tax rate for fiscal 2024 is $10.27 per $1,000 of taxable value, which amounts to a rate decrease of about $3 over that time period. The tax rate for commercial, industrial and personal property is $16.27, down from $22.24 in fiscal 2015.
But even as the tax rate decreases, residents and businesses are paying more because of growing property values.
Here is a list of the entities that made up Weymouth’s top taxpayers in the last year:
More: Who are the top taxpayers in Weymouth in 2022? Take a look at the top 10
1. Calpine Corp., $5,062,715
Houston-based Calpine Corp., the owner of the Bridge Street power plant, was once again the town’s top taxpayer. The Calpine Fore River Energy Center generates 731 megawatts of power and runs mostly on natural gas, while occasionally using fuel oil.
The town charged $5 million in property taxes during the period from July 2023 through June 2024.
Calpine bought the power plant from Exelon Corp. in 2014. The company bills itself as the “largest generator of electricity from natural gas and geothermal resources.” The entities that acquired Calpine in 2018 are looking to sell the company, according to a report from Reuters.
2. National Grid, $3,080,957
The combination of property owned by Boston Gas Co. and Massachusetts Electric, which are under the National Grid name, make up the No. 2 top taxpayer spot with just over $3 million.
Property under Boston Gas Co. was $2 million and $1 million under the Massachusetts Electric name.
Massachusetts Electric rebranded to National Grid in 2005 and Boston Gas was acquired by the company the following year.
3. The Commons at SouthField, $950,697
This 226-unit apartment complex is at 200 Trotter Road and was built in 2012. It’s one of four complexes on this list owned and managed by John M. Corcoran & Co., a Braintree-based developer and property management company.
Weymouth charged just under $1 million in property taxes for the complex, which offers apartment sizes from studios to three-bedrooms.
4. The Mastlight, $940,219
Across the street from The Commons and also managed by John M. Corcoran & Co., this mixed-used development at 10 Patriot Parkway has 265 apartments over 14,000 square feet of commercial space. It was built in 2018.
Weymouth levied $940,219 in taxes in fiscal 2024 for the apartment complex.
5. Avana Weymouth, $897,212
Located at 190 Mediterranean Drive, Avana Weymouth paid nearly $900,000 in property taxes during fiscal 2024.It was previously known as Mediterranean Woods.
The property has 418 apartment units and is owned by Montreal-based Ivanhoe Cambridge.
6. Weymouth Commons, $872,901
This apartment complex is at 80 Donald St. It has studios all the way up to four-bedroom townhomes. The property is owned and managed by John M. Corcoran & Co. Weymouth levied nearly $873,000 in property taxes in the last year.
7. Queen Anne’s Gate Apartments, $870,906
The 590-unit apartment complex at 100 Queen Anne Drive is owned by Boston-based Corcoran Jennison Cos.
Weymouth levied nearly $871,000 in property taxes during the last year for this property. In addition to apartments, the company also owns and manages hotels, health facilities and retail centers.
8. The Point at Weymouth, $805,634
This apartment complex at 39 Trotter Road opened in late 2020. It has 237 units and used to go by the name Mio. For the last year, Weymouth charged just over $800,000 in property taxes.
The property was acquired by New York-based Pantzer Properties in July 2023 for $94.6 million.
9. The Ledges, $731,442
The Ledges, at 1 Avalon Drive, has 304 units and is also owned and managed by John M. Corcoran & Co.
It was built in 2002 and for the last year the town levied more than $731,000 in property taxes.
10. Pleasant Shops, $637,695
The shopping center at 35 Pleasant St. in South Weymouth is owned by Edens, which develops and manages retail and mixed-use projects, including South Bay Center in Dorchester.
Hannah Morse covers growth and development for The Patriot Ledger. Contact her athmorse@patriotledger.com.
