Town Council Sets Tax Rate Of $20.14
Members also each spoke briefly about Henry Boezi, their colleague until his death Saturday.
The Town Council voted to set the tax rate for 2012 at $20.14 per $1,000 assessed property value at their meeting Monday night. The budget was set at the Financial Town Meeting June 11, but the tax role had to be certified.
The town's budget for 2012 is $50.7 million, an increase of 3.4 percent.
The tax rate is significantly higher than last year's – which was $17.49 per $1,000 of assessed value. That reflects lower property values more than higher taxes. The town's recent property revaluation showed an overall decrease in property values of about 10 percent. So, for taxes to remain exactly the same, the rate would still need to be about $2 higher than the 2012 rate.
Without revaluation the levy would have been approximately $18.04 per thousand, generating the same income.
In other words, for a house that had been valued at $400,000 before, a tax rate of $18.04 would result in a tax bill of $7,216.
If that same house is now valued 10 percent below the old value, it would be assessed at $360,000. The new tax rate of $20.14 for that house would result in a tax bill of $7,250. (Keep in mind some houses may have lost less than 11 percent value and some more.)
It's a bit confusing.
The first bill will be mailed in December. If you have questions, you can leave them in the Comments section here and I will try to find the answers. Or contact Tax Assessor Janice Peixinho directly at 886-8614 or email@example.com.
In other action, council members each spoke briefly about Henry Boezi, 8-year Town Council veteran, who died Saturday.
"Henry was a champion of kids and he was dedicated to education," said Councilman Michael Kiernan.
"He loved this town, he was dedicated to this town, he loved giving back to this town," said Councilman Jeff Cianciolo. "It’s a sad day."
"It’s difficult to sit here without him in that seat," said Council President Michael Isaacs. "We should all thank Henry. Thanks Henry."
(The funeral for Henry Boezi will take place Thursday at 10 a.m. at St. Francis de Sales Church in North Kingstown. Calling hours are from 4 to 8 p.m. Wednesday at Hill Funeral Home on Main Street.)
The Council meets again next Monday, July 30, in a special session to vote on a replacement to complete Boezi's term, as per Town Charter.