REVERE — For the first time in nearly two decades, the city’s residential water and sewer rate will drop.
Mayor Brian Arrigo told the Revere City Council Monday night the 3 percent cut will save ratepayers $2 million.
Homeowners will see lower bills starting next month, going from $16.50 to $15.99 per cubic feet. It was 2000 when the city last saw rates fall. Since then, costs have increased annually by double digits.
“Our ratepayers have been getting killed,” Arrigo told The Item.
The decrease is thanks to a $5 million surplus from the replacement of most of the city’s water meters.
“This represents just one way we are creating a smarter, more efficient government for the people of Revere,” Arrigo said. “Our residents deserve the best, state-of-the-art systems, and when the city benefits from those investments, we believe our residents should share in that savings.”
Arrigo presented a giant-sized $2 million check to ratepayers at the council meeting.
“We’re taking a portion of the surplus and giving it back to ratepayers,” he said.
The additional $3 million in savings will be reinvested into the system and help create more sustainable, stable water rates for residents, he said.
But not everyone will save money. Commercial ratepayers, such as owners of multi-family and other large properties, will pay the higher rate of $25.99 per cubic feet, up from $25.61, a 1.5 percent hike, the lowest increases in a decade, the mayor said.
“From my perspective, I’d much rather prioritize homeowners who have had to deal with the rising rate for so many years,” Arrigo said.