<p>Christmas has come early for Edgartown taxpayers, who will see an estimated 16 per cent decrease in their tax rate for the 2020 fiscal year.
Christmas has come early for Edgartown taxpayers, who will see an estimated 16 per cent decrease in their tax rate for the 2020 fiscal year.
At a meeting Monday, Edgartown selectmen unanimously voted to approve a single residential and commercial tax rate, estimated at $3.35. The fiscal year 2019 and 2018 tax rates were $3.87.
Edgartown traditionally has used a single tax rate for commercial and residential properties. Despite discussion at the meeting Monday, that won’t change for fiscal year 2020.
Town assessor Jo-Ann Resendes presented selectmen with various scenarios that showed the effects of an increased commercial tax rate. She said a 50 per cent increase in the commercial class tax rate would have led to a $3.24 rate for residential payers, for instance.
But because the town’s taxable property is 94 per cent residential, selectmen felt changing the single rate system was unnecessary.
“I would say the way we’ve been doing it is a fair way to continue doing it,” selectman Arthur Smadbeck said.
Chris Scott, who serves on the town board of assessors, said keeping a single-rate system was also the board’s informal recommendation.
“We discussed it,” Mr. Scott said. “We didn’t take a formal vote but we felt the same way.”
For a home valued at $500,000, tax bills will come in at $1,675 for the 2020 fiscal year. Assuming home values didn’t change, that represents a $260 decrease from the 2019 tax bill, set at $1,935. However, because most homes change in value, the change in tax rate may not equate to an equal drop in the size of most residential tax bills.
Town administrator James Hagerty added that the town had also approved two $1 million warrant articles for bonds that were not yet complete. Once issued, those bonds would also lead to potential tax rate decreases for fiscal year 2021, Mr. Hagerty said.
The drop in the tax rate is due to multiple factors, according to Mr. Hagerty, including the town budget, a ten per cent decrease in the town’s tax levy and a nearly six per cent increase in the town valuations. According to Ms. Resendes, total town valuations increased from $8.885 billion to $9.399 billion.
“At the numbers we’re talking about, it makes a big difference in the tax rate,” the assessor said. “Your town value is now around $10 billion. You’re getting up there.”
Comments
While my primary home taxes
DREW E OCONNELL EdgartownWhile my primary home taxes have increased 3-4 % for the last 25 years, Edgartown is superbly run and managed properly. Congrats to all!
We are a well run town
Bob EdgartownWe are a well run town because we are awash in money. The list of where we could save more is long indeed. Start by cutting the number of town employees in all departments. Second adjust retirement age so that retired employees do not make more in retirement than they did while working. The OPED issue is not going away. Third get the school spending under control. Mostly we are lucky to have the summer homes here that do not use our school system. And it seems lately a large group of people want to stop the summer crowds from coming which has made this all possible.
I agree with Bob. Why do some
bridget aquinnahI agree with Bob. Why do some want to punish the tourists and seasonal owners every chance they get? Both pay small fortunes to this island. I commend Edgartown for not upping property taxes on seasonal owners (who, as Bob says, don't use the schools).
Bob, Can you please come to
Christine VHBob, Can you please come to Tisbury and be Mayor?
The OPED you speak of is
Edgartown Taxpayer EdgartownThe OPED you speak of is Other Post Employment Benefits (OPEB). You are darned right those liabilities will keep growing. They aren’t pension payments so they don’t involve people earning more in retirement than when they left. They are all about letting retired people from town government receive the same healthcare as those still working. Expensive as hell! And growing every year. Sorta like social security where it used to be five workers paying for every retired person (people lived a lot less long back then) vs now and a couple workers paying for all those retired folk. System was going bust when it was conceived decades ago. Good news is, that promise of healthcare (as opposers to pensions) isn’t written solid. You can yank it away at any time. See Andover approach. Bad news is, municipal employees aren’t suckers and don’t count on the cheap healthcare they are promised since nobody funds it ahead. Hence the rising cost of finding employees for government work. It is a market sir, and government workers are aware of the “benefits” they may (likely won’t) receive. They charge more now. Can’t blame them one bit. It is called capitalism. You want a police officer to show up when you are in distress? You want a teacher to learn your child (or future employee) some skills? You want to be sure your tax payments go to your infrastructure and not some crooks pocket? Government employee at your service. Government employee who knows nobody is gonna honor that healthcare agreement. Pay up son. No fools on this island, trades or offices.
Had this been done in 1879
skip OBHad this been done in 1879 Oak Bluffs may not have seceded in 1880.
Well done, between the good
Mark EdgartownWell done, between the good news on lower tax rates and the article on the town making money from dredging it makes me happy to be in Edgartown!
As the article points out,
Facts not fiction edgAs the article points out, just because the rate decreases it does not mean your tax bill will decrease. If your valuation increases, be thankful it doesn't go up exponentially. My property tax bill ALWAYS goes up.
Not the case for everyone.
David EdgartownNot the case for everyone. Assessments seem to have gone up less than 5%, which should lead to lower property tax bills for most.
Let me see, a few people own
the one percent edgartownLet me see, a few people own most of of downtown and pay the same fair rate as the rest of us. If commercial rates went up 50% on someone's 20 million dollars worth of commercial property they'd pay more in taxes and probably pass it on to consumers.The residential tax rate would only drop another 11 cents more. The rich shouldn't pay more. That wouldn't be fair.
I appreciate the town cutting
Edgartown Taxpayer EdgartownI appreciate the town cutting the amount of money they ask property owners to pay by 10%. That is highly unusual and reflects well on our new leadership. With values up less than that most people can expect a cut in their tax bill. It should be put into context. Edgartown led the state (over 350 towns and cities) with their tax levy (how much they collect in property taxes) a couple years ago, or maybe last year, can’t recall exactly, with a 13.5% increase. New dredge, a yellow house...etc. So what has really happened here is that Edgartown has returned to more normal spending, just like a couple years ago. New leadership deserves credit and gets mine. But the stunning reduction was only made possible by the stunning hike a couple years ago. And let none of us forget how fortunate we are to have such affordable property taxes. Other towns didn’t do anything wrong, this isn’t an indicator of superb financial planning. We are just real popular with the really rich crowd and they pay most of our bills. Not sure how I feel about that.
The reality is that property
Edgartownite EdgartownThe reality is that property tax payments for many in Edgartown have roughly doubled in the past ten years. You can afford to lower the rates when the property values are increased. The key is not what is being taken in, but what is being spent.
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