Total property tax *bills* for existing housing (not the *rate*) cannot increase by more than 2.5% YoY thanks to the State’s 2 1/2 proposition. If property values have increased by 13.5%, the tax *rate* will go down by almost 11% unless town residents approve an override. That does not mean your tax *bill* will go down, my wager is they will go up on average another 2.5%, like they always do.
The better question is why the selects have recommended the maximum allowable increase every year for the last 20 years at the same time our population has decreased and the student body (education is roughly half the budget) has declined by 40%. > > ---------- Forwarded message --------- > From: Adam M Hogue <[email protected]> > Date: Thu, Sep 21, 2023 at 07:49 > Subject: Re: [LincolnTalk] Lincoln Finance Committee - "Town Capital > Capacity" presentation > To: Garrick Niemiec <[email protected]> > CC: Lincoln Talk <[email protected]> > > > I hope if our home values have gone up 13.5% the town select board should > look to cut the tax rate in town to help people with this increase, they > probably won’t knowing our current select board and it probably won’t be > brought up. > > *Adam M Hogue* > *Cell: **(978) 828-6184 <(978)%20828-6184>* > > On Sep 21, 2023, at 7:26 AM, Garrick Niemiec <[email protected]> > wrote: > > > > OMG > > On Wed, Sep 20, 2023, 9:28 PM Andrew Payne <[email protected]> wrote: > >> Fellow residents, >> >> By popular demand, I'm sharing a ~15 minute Finance committee >> presentation on the Town's capital capacity, in advance of our State of the >> Town (SOTT) meeting on September 30. This is an updated (very *slightly*) >> version of the same presentation fincom did last year. >> >> (If you have nothing to watch on Netflix tonight, this may be an >> excellent way to go to sleep.) >> >> See the video here: https://youtu.be/8jfJuKiYUGA (Pro tip: if you are >> in a hurry, use accelerated playback). >> >> I've also attached a copy of the slides to this email. For those of you >> that get the lincoln-talk digest without attachments: please email me >> directly for a copy of the slides. >> >> ***CAVEAT: *The presentation and calculations in this presentation use >> FY23 property value data. The FY24 property data is coming hot off the >> presses as we speak - the median home value has apparently gone up ~13.5% >> (!). If you're trying to compare your current tax bill with the median data >> & tax impact shown in this presentation, please keep that in mind. >> >> >> See you all on Sept 30, >> >> -andy >> Chair, Lincoln Finance Committee >> -- >> The LincolnTalk mailing list. >> To post, send mail to [email protected]. >> Browse the archives at >> https://pairlist9.pair.net/mailman/private/lincoln/. >> Change your subscription settings at >> https://pairlist9.pair.net/mailman/listinfo/lincoln. >> >> -- > The LincolnTalk mailing list. > To post, send mail to [email protected]. > Browse the archives at https://pairlist9.pair.net/mailman/private/lincoln/ > . > Change your subscription settings at > https://pairlist9.pair.net/mailman/listinfo/lincoln. > > -- > The LincolnTalk mailing list. > To post, send mail to [email protected]. > Browse the archives at https://pairlist9.pair.net/mailman/private/lincoln/ > . > Change your subscription settings at > https://pairlist9.pair.net/mailman/listinfo/lincoln. > >
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