Quote:
Originally Posted by John Mercier
Doesn't work that way.
The budget is decided by the voters locally, and representatives at the county level.
The rate is based on what the voters and their representatives have decided to spend.
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John, Yes I know exactly what goes into setting the tax rate..... But it doesn't negate what I stated.... because when you distill the entire picture you see this equality:
(Total Assed Property Values X tax Rate) = Money available to spend
(Town Budget + School Budget + County Budget + State Budget) = Money needed
Money Needed == Money Available to Spend.....
With that said if
current year Total Assed Property Values > Prior year Total Assed Property Values
and
Money Needed < (current year total Assed Property Value * Previous Year Tax Rate)
than
Previous year Tax Rate > Current Year Tax Rate
so it is possible
(Previous year Property Value * Previous year tax Rate) =< (current year Property Value * current year tax Rate)
You are focused on the process of how it all works..... Which is great, but the Mathematics of it all are a different story.... a lower Tax Rate doesn't mean that your taxes have gone down....
What the lakes region continues to rid on, is over inflated home values allowing for lower tax rates......