Andover has three property tax classifications. All property falls into one of these three categories.
Residential/open space: This is vacant land, land with houses, and large unimproved open spaces.
Commercial/Industrial: This is land and buildings occupied by businesses and manufacturing.
Personal Property: This is generally “business personal property” and would include merchandise, furniture, machinery tools, equipment, and underground conduits from Andover businesses.
Every year at Annual Town Meeting, Andover votes on financial warrant articles that appropriate the funds needed to run the town for the coming fiscal year. Taxes, in all three of the above categories, are collected to fund the town’s finances and to pay for articles passed by voters. The total amount of tax that can be collected is limited by Proposition 2 ½.