The property tax increase is actually 133 percent. Say what? Yep! The town currently gets 9 cents of every property tax dollar. That will increase to 21 cents (from their presentation). That is a 133 percent increase in the town’s revenue from property tax.
What politician wouldn’t love that? It’s outrageous they can ask for that with a straight face. Wait for the spending binge! And the 2 percent increase that no one seems able to calculate? Simple compound return formula: If raised every year, in five years the tax increases 10.4 percent. In 10 years, 21.9 percent. In 20 years, nearly 50 percent to $10.5 million!
We moved here in 2003. Since day one there’s been a small group of vocal people agitating for a primary property tax, long before the Great Recession and ensuing cost cutting; before the building permit and state shared revenues dropped. I give them credit. They have lost and learned. Now they are better organized, better funded and louder.
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I am anchor
Too big
Posted
David Feldbaumer
The property tax increase is actually 133 percent. Say what? Yep! The town currently gets 9 cents of every property tax dollar. That will increase to 21 cents (from their presentation). That is a 133 percent increase in the town’s revenue from property tax.
What politician wouldn’t love that? It’s outrageous they can ask for that with a straight face. Wait for the spending binge! And the 2 percent increase that no one seems able to calculate? Simple compound return formula: If raised every year, in five years the tax increases 10.4 percent. In 10 years, 21.9 percent. In 20 years, nearly 50 percent to $10.5 million!
We moved here in 2003. Since day one there’s been a small group of vocal people agitating for a primary property tax, long before the Great Recession and ensuing cost cutting; before the building permit and state shared revenues dropped. I give them credit. They have lost and learned. Now they are better organized, better funded and louder.
But they are still a very small minority despite their appearance based on mailers, letters to the editor, full-page ads, street signs and shout downs at the town tax meetings. They are the minority trying to flip a majority. In the April 25 Times they listed 462 names. That’s only 1.9 percent of our population. Most residents do not want huge tax increases.
Some write that property taxes here are a joke compared to Ill., N.J., Calif. So you leave your home state due to ridiculous taxes, move here, then vote for huge property tax increases? Seriously?
Conclusion: This tax is too big. It’s OK to vote no. Don’t let them guilt you into voting yes with mushy “Save our Town” rhetoric. Vote no and let’s work to pass a smaller, more reasonable tax.
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