OK, now I am confused.
Is it a cap on the total taxes that can be raised?
or
Is it a cap on the tax rate?
It makes little sense to cap the rate as the it will change as a result of the simple calculation done each year.
Tax Rate = total taxes to be raised / (total value of property as currently valued / 1000)
The town can't fix the second half of the equation. It would be nice if they could control the first half.
I don't care if my rate goes down but my tax bill goes up.
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