Government
Assessor’s Tax Presentation Has Good News for Some, Increases for Most
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The preliminary report on next year’s property taxes shows an increase of more than 5 percent for homeowners, but a change in the way the commercial rate is figured will result in a smaller increase than expected for some commercial properties. Town Assessor Francis Golden will be presenting the Fiscal 2017 Property Tax Classification Hearing at the Town Council meeting on at 7:15 p.m. on Wednesday, Nov. 9. If the same residential exemption and Commercial/Industrial and Personal Property (CIP) shift is adopted, the rate will be $13.70 per $1,000 of assessed value. This would result in a bill of $5,336 on the average owner-occupied residential property (worth $547,540), which is an increase of $267 or 5.27 percent.