[camp guy]

Paying taxes semi-annually also spreads out the income to the Towns so that they don't have to borrow up front. The so-called TANs (tax anticipation notes) were necessary when taxes were paid at the end of the year. To meet the distribution needs of the budget, Towns had to borrow money in anticipation of taxes to make those distributions. By paying taxes semi-annually, this isn't necessary and the Towns save the interest charged on the Notes.