Quote:
Originally Posted by LIforrelaxin
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......
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We don't use money available to spend except in cities with tax caps.
In a town, that number is as high or low as the voters decide.