North Adams Council to Vote Tax Classification on TuesdayStaff Reports,
12:54AM / Friday, December 09, 2016 | |
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NORTH ADAMS, Mass. — The administration is proposing to raise the property tax rate about 2 percent for fiscal 2017.
Mayor Richard Alcombright is recommending the City Council continue the commercial shift at 1.71, which pushes more of the tax burden onto commercial, industrial and personal property taxes.
That would mean an increase of 31 cents per $1,000 valuation, or a rate of $17.70 for residential, and 61 cents more for the commercial rate, or $38.54.
The average single-family home valued at $136,900, would see a property tax bill of $2,423.13, up about $83 because last year's home value was more than $1,300 less.
If the council were to prefer a single rate at next Tuesday's tax classification hearing, the tax rate for all properties would be $22.54 per $1,000.
The tax levy for fiscal 2017 is $16,139,266, up 2.58 percent, about $400,000, over last year. Residential provides 60 percent of the levy and commercial about 27 percent.
The city's total valuation is up almost $7 million at $716 million. Residential values are up nearly $6 million, commercial $2 million and industrial about a $1 million. Personal property, however, is down about $1.8 million.
The council will also be asked to approve the transfer of $205,000 from free cash to balance the budget, as well as reduce the operations line item of the transfer station by $167,298.
The transfer was accepted in concept last spring when the council approved the $39.5 million budget for fiscal 2017. The $205,000 was factored in to offset increases in health insurance expenses.
The state Department of Revenue has certified the city's free cash at $489,580; with the transfer, that will leave a free cash balance of $284,580. The city last spring the transferred $787,752 from certified free cash into the stabilization account, bringing that account up to nearly $1 million.
The transfer station has seen a fall off in both operating expenses and revenues as larger haulers have opted to use the large-capacity private transfer station in Pownal, Vt.
"As the fiscal year has progressed, we became aware that the transfer station receipts have continued to shrink," Alcombright wrote in his letter to the council.
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