Whopping Tax Increase

  1. You have chosen to ignore posts from tuxcat. Show tuxcat's posts

    Whopping Tax Increase

    Just received my tax bill for the new year - YIKES.  Apparently someone in Malden missed the Economics 101 class in which it was taught that it's never a good idea to raise taxes in a recession.  This is a serious increase.  Where is all this money going - not to road or sidewalk repair, cleaning up of litter, waste bins in the parks.  Why does Malden have such fiscal problems?
     
  2. You have chosen to ignore posts from tufts. Show tufts's posts

    Re: Whopping Tax Increase

    The valuation rate went from 9.91 to 12.37.  That's quite an increase!
     
  3. You have chosen to ignore posts from danc. Show danc's posts

    Re: Whopping Tax Increase

    The tax rate increased 21%, but my Assessed Value dropped 22%, so I saw a slight decrease.  With the Residential Exemption factored in my taxes are about 11% less than last year.

    However, I don't like the way the Residential Exemption is done.  They should give everyone who qualifies the full 20%, rather than a fixed amount for everyone (I believe its around $836 this year).

    I imagine that everyone's Assessed Value will be down significantly this year which should balance the large increase in the rate.  Basically, they start with the total taxes collected for the town from last year, add 2.5% (the most they can under Prop 2 1/2) and then reverse engineer the rates.  So if property values are down the rates will be up so the town gets the same amount of money as last year plus 2.5%.

    So much for all the "savings" with the PAYT program.  The still increased taxes the most they could without an overide.

     

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