Government
Council Approves Tax Rates, Cannot Shift Burden onto Commercial as Much as in Past
|
A State law that allows cities and towns to shift the tax rates from residential properties to commercial and industrial properties also stands in the way of providing as much relief to homeowners as the City Council would like. Last week, the City Council adopted the new tax rate with a split tax rate and residential exemption that would increase the average annual tax bill by $309 or 4.4 percent. State Law’s Impact on Watertown Taxes
Proposition 2 1/2, which is known for limiting the overall tax levy increase to 2.5 percent per year, also allows for some relief of up to residential property owners. Watertown City Assessor Earl Smith told the City Council on Nov. 22 that the law also limits how much can be “shifted” onto CIP (commercial, industrial and personal) properties.






