Question: Why did my 2008 Property Taxes increase more than 2 1/2 %?:
The total amount of property taxes that a community can raise from one year to the next in Massachusetts is 2.5% more than what was raised in the previous year. After the 2.5% is calculated, the annual debt payments (less the reimbursements from the State) are added for the school construction projects (authorized by ballot questions to raise funds by debt exclusion in excess of Proposition 2 1/2). For the individual taxpayer, taxes paid from year to year will vary based on the change in the value of their home, when combined with the tax rate. For example: in 2007 the average home value in Monson was $222,000 with taxes being $2,588; in 2008 the average home value in Monson is $237,000 with taxes being $2,825.
Question: How much am I paying for the school construction debt?:
The tax rate for Fiscal Year 2008 property taxes is $11.92 per thousand of valuation; within this rate is $.70 cents per thousand for the debt payments on the 3 school construction projects. The average valued home in Monson is paying $165.90 for the school contruction debt in Fiscal Year 2008.
If you have any further questions regarding tax rate calculations, property values, or CPA assessments, please contact Deborah Mahar, Finance Director at (413)267-4110 or Diane Hildreth, Principal Assessor at (413)267-4120. For questions on payments, payment arrangements or prior balances, please contact the office of Dorothy Jenkins, Town Collector at (413)267-4119
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