2018.09.10 Council Agenda Item 01
Summary
Report from the Town Manager and Finance Director on the proposed tax rate for FY2018/19.
A public comment period will not be included with this item.
ACTION: Council action is not anticipated.
Description
The State statutes give authority to the Assessor to establish the tax rate and commit taxes to be collected by the Tax Collector. Although the authority rests with the Assessor, she relies on guidance offered by the Town Manager, Finance Director and Town Council.
A copy of the proposed tax calculation is attached. The proposed rate is 16.47 and equals the projected rate proposed in the FY2018/19 Budget presentation. Valuation values presented in the attachment were adjusted for BETE and Homestead in the same way as the Budget calculation. Valuation for non-TIF areas grew .8%, TIF areas grew 10.6% for an overall valuation growth rate of 1.5%.
A history of the mil rate in Falmouth from 2009 to the present is also attached.
