CARTHAGE The tax rate for the more than 400 properties owned in this small, Franklin County town declined nearly 25 percent this year, but property values increased by about 35 percent.
First Selectman Steve Brown said the board set a $17 per $1,000 tax rate on Friday, down from last years rate of $23 per $1,000 valuation.
Brown said the widening gap between assessments and sale prices for most properties necessitated the 35 percent increase in valuation so that the town can keep its state-certified 90 percent ratio.
All properties except older mobile homes and small outbuildings were assessed at the higher rate.
Because town properties are certified at 90 percent valuation, the Homestead Exemption for primary homes will be $11,700, Brown said.
He added that the town doubled the value of virtually all properties during tax year 2004-05 so that its ratio could be maintained, then added no extra value last year.
Taxes are due on Jan. 28. Those paid on Jan. 29 and thereafter, will be assessed 8 percent interest, rather than the highest 11 percent figure allowed by the state.
He said some taxes have been prepaid.
While the municipal budget has declined, Brown said the town must pay higher school and county taxes.
eadams@sunjournal.com
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.