Friday, September 23, 2005
FY06 revenues rise but Jan. tax bills will still pinch
Carlisle taxpayers will face smaller increases in their January tax bills thanks to better-than-expected revenues during Fiscal Year 2006 (FY06). New housing construction and state aid combined for $130,000 more in funds than anticipated.
According to Town Assessor John Speidel, the new growth in real estate valuation for FY06 totaled $23,003,124, or $5 million more than the $18 million estimated last spring. Once this new growth is certified by the state Department of Revenue, it will generate roughly $70,000 in additional tax dollars. Also on the plus side, Massachusetts released higher "cherry sheet" figures on June 30 for FY06 state aid to Carlisle, bringing in an another $60,000. Town Treasurer Larry Barton pointed out that the new revenue is, however, relatively small compared with the size of the tax increase required to fund the FY06 budget approved by Town Meeting.
This is the first year Carlisle residents have received quarterly tax bills, and Barton reported at the September 13 Finance Team meeting that the new system has already saved the town interest fees previously paid for short-term borrowing. The borrowing has been needed in recent years to pay expenses during the gaps between semi-annual tax collections.
The first two quarterly tax bills, mailed in June and October, are "preliminary" — calculated at 1/4 of last year's tax bill for each property. Barton expects the January bills to be higher because they will be based on the actual tax rate calculated from the FY06 budget and final revenue data.
© 2005 The