County Reduces Tax on Apartments

Taxes for both the Town and the County are spread amongst classes (categories) using ratios.  Residential has a base of 1.0, so if a class has a ratio less than 1.0, then for a given valuation, taxes will be less.  As an example, the farm ratio is 0.25 so valuations of farms will be 4 times that of a residence for the same tax. But “multi-residential” was previously set at 2.2160 and “industrial” class was set at 2.6300 so their taxes were more than double for the same valuations. However, both multi-residential and industrial were deemed to be too high so will now be lowered to 2.0000 and 2.4800 respectively for 2018 taxes.  This means that taxes for multi-residential will… Read complete articleCounty Reduces Tax on Apartments