Prices are going up, not down, and that is also true about taxes. But the proposed $5.38 million 2007 Town budget will only bring taxes up about six cents per $1,000 of assessed property value. When you consider that the tax base of assessed value didn't even go up to 1% this year, that is almost remarkable. ""We really worked to keep the tax rate increase under the cost of living, which is over 4% right now," Town Bookkeeper and Personnel Officer Sharon Bowman says. "We think we have a pretty decent budget to put before the public."
How a municipal budget really affects taxpayer wallets is a balancing act between property assessments, the tax levy and the tax rate. If assessments are high, government officials have a larger pool to draw from, so they can appear to take less out of it with a lower tax rate. But the amount of money they budget is the same, whether the assessments are high or the tax rate. Typically if one is up, the other is down, but homeowners pay more taxes anyway. Even if the levy stays constant, people pay more if their assessments go up.