Adam H. wrote: 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. >
All other things being equal, that's pretty much what happens. The (simplified) process every year is: 1) At March town meeting, residents vote to approve a town budget and other items (capital exclusions, debt, etc.). 2) In late summer/fall, the Select Board takes the total property values in town and approves a tax rate to raise the total amount previously approved by residents. Except for a detail with commercial vs. residential rates, it's essentially formulaic, not discretionary. In other words, the property tax rate doesn't set our budget. Our budget (voted by residents) sets the property tax rate. For example, if all of our property values magically doubled and our budget was flat, the property tax rate would be halved. *BUT, your tax bill would be unchanged.* One well-taxed resident's view, -andy https://payne.org/lt-disclaimer/
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