Friday, November 2, 2007
Selectmen expect tax rate to rise to $12.86
Pending certification by the state, Carlisle's real estate tax rate is expected to rise to $12.86 per $1,000 of property valuation, up from $11.96 last year. At the annual Tax Classification Hearing held during their October 23 meeting, the Board of Selectmen voted to continue an equal tax rate for both commercial and residential properties.
Carlisle residential home valuations are close to one and a half billion dollars, at $1,439,944,000, more than 98% of the town's tax base. By comparison, commercial property in town adds up to just $10 million in valuation.
The tax levy for all residential, commercial and personal property this FY08 is approximately $18,816,000. The town's operating budget is funded by taxes from the existing property tax base with a 2-1/2 percent increase per year allowed under Massachusetts Proposition 2-1/2, plus property taxes assessed on any new homes completed or lots developed, during the fiscal year.
The town will receive an additional $1.2 million in funds this year from local receipts from excise taxes, fees and permits, and interest on accounts. The town will also receive approximately $1.5 million in state aid funds this year. The town budget for FY08 totals $22,280,338, including all revenue sources, and fund transfers from Community Preservation Act funds, free cash and stabilization funds, according to Carlisle Treasurer Larry Barton.
The budget can be increased by a Proposition 2-1/2 override approved by voters, or by any capital expenditures approved. A Proposition 2-1/2 override vote is a permanent increase to the town tax base.
Selectman Chair Tim Hult, liaison to the town FinTeam, said the town is "cautiously optimistic" about potential future tax income from new housing starts, including a planned development off Rutland Street that could have up to 16 homes, and the large home development project off Westford Street that is in the planning stages.
© 2007 The