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Old 12-07-2011, 07:29 PM   #22
Slickcraft
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Quote:
Originally Posted by Rattlesnake Guy View Post
OK, now I am confused.

Is it a cap on the total taxes that can be raised?

or

Is it a cap on the tax rate?

It makes little sense to cap the rate as the it will change as a result of the simple calculation done each year.

Tax Rate = total taxes to be raised / (total value of property as currently valued / 1000)

The town can't fix the second half of the equation. It would be nice if they could control the first half.

I don't care if my rate goes down but my tax bill goes up.
Did you read the actual wording of the law in post #5? Clearly it is a cap on taxes to be raised.
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