Quote:
Originally Posted by Sue Doe-Nym
The proposed property re-evaluation is not a done deal. Real estate is currently selling above assessed value, in most cases. What we need to worry about is the millage rate, TBD. We are encouraged that 3 of the 5 BOD members are fiscally conservative and are holding the Town Administrator accountable, particularly Chuck McGee. BTW, the tax rate is set by the DRA. Stay tuned.
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Selectperson is a thankless job with long hours, so there's that and people don't realize the importance of Town meeting where dumb things can be stopped dead if people show up.
The increase in valuation does not increase taxes. That is done at town meeting. If taxes are not increased at town meeting then everything being equal your taxes would not increase for that year (not counting county and state taxes).
What happens with this valuation increase is the lake properties increased in value at a rate higher than non lake properties. When that happens more of the burden shifts to the lake properties because of the overall valuation shift on those properties. It's good news for the non lake properties because in my example above their taxes DECREASE.
Alas, though, politicians always want more money to spend and town meeting usually gives it to them. So I'm betting everyone's taxes will increase, with the lake properties increasing more than the non lake properties. I figure I will be paying 2% more in the zero tax increase scenario I gave up above. Any increase in spending will add to that.