UPDATED: Taxes
WILL go up. How and by how much?
By
Will Collette
"Faith's Folly," one of the boondoggle projects that are adding to your tax bill. 4,000% over budget and hardly ever used. Details down below. |
UPDATE: As usual, the CCA Party makes the claim that Charlestown's tax rate is very low compared to other municipalities, except they always leave out any comparison of what taxpayers in other municipalities GET for their tax dollars.
This year, unlike past years, they are drawing attention to the tax rate.
That's because, since 2008, the CCA Party has increased the tax rate. This was a revaluation year and that gives the CCA Party an opportunity to cloud over how they will increase town taxes.
Charlestown property owners have already been notified by Charlestown Tax Assessor Ken Swain what their homes are worth under the new valuation Charlestown will use to calculate their taxes. Cathy and I got notice that our assessment is going up by 9.4%.
This year, unlike past years, they are drawing attention to the tax rate.
That's because, since 2008, the CCA Party has increased the tax rate. This was a revaluation year and that gives the CCA Party an opportunity to cloud over how they will increase town taxes.
Charlestown property owners have already been notified by Charlestown Tax Assessor Ken Swain what their homes are worth under the new valuation Charlestown will use to calculate their taxes. Cathy and I got notice that our assessment is going up by 9.4%.
Overall,
the value of all taxable property in Charlestown went from over $2.3
billion to $2.5 billion, or approximately 8%. Put that number up against the reduction in the tax rate.
The
Budget Commission will hold a public hearing on the budget on Monday, May 1 where they
will present the new
$27,724,601 Fiscal 2018 Budget.
Of
that amount, just over 50% covers Charlestown’s share of the cost of the
Chariho School District. That part of the budget has already been approved by voters and
is now locked in.
The
Budget Commission is recommending a drop in the tax rate from the current
$10.21 per $1000 of valuation to $9.54, a number subject to change all the way
until the budget is finalized and approved by voters at the June 5 townwide
Financial Referendum.
But
the Budget Commission proposes that actual tax collections rise to $24,400,793,
an increase of 1.15% despite the drop in the tax rate.
Hope
you haven’t dropped off to sleep. Yes, the tax rate will drop for the first
time since 2008 (which was another revaluation year) but no, you will
probably still pay higher taxes.
Since
my tax valuation is up by 9.4%, that wipes out the effect of the drop in the
tax rate and then some. I suspect many, maybe most, other Charlestown taxpayers will be in the same
boat.
Narragansett
gets it but we don’t.
Making
it even more galling is that the CCA
Party has denied Charlestown residents the benefits of the Homestead Tax Credit
available to other Rhode Island communities, but not here in Charlestown.
Narragansett’s
Homestead Exemption just went into effect, giving full-time residents
who do not rent out their property up to 10% off the tax valuation of their
home. More than 3,000 residents have applied to receive the exemption
which is close to the Narragansett tax officials’ estimate of the total
eligible households.