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Town Manager's Office Town Hall, 2nd floor, 367 Main Street Hyannis, MA 02601

Town Manager:  Assistant Town Manager:  Telephone:  Fax:  Office Hours:

John Klimm Thomas Lynch 508-862-4610 508-790-6226 8:30a.m. to 4:30p.m.

Tax Classification Hearing

Every year the Town Council is required to conduct a tax classification hearing for the purpose of deciding how the town's tax levy will be distributed between property classes. The tax levy shifting options include a "split tax-rate" which is where the commercial, industrial and personal property classes pay at a higher tax rate than the residential class; a residential exemption where primary residences are credited with a reduction to their taxable property value decreasing their tax liability, and a small business exemption where certain qualifying small businesses may receive a reduction to their taxable property value. All of these tax levy shifting options do not impact the amount of property taxes assessed by the town. They only decide how the tax levy will be distributed. The projected tax levy for FY10 is $91.8 million. The attached presentation illustrates how the tax levy shifting options operate and their impact on the tax rates and tax levies by property class. The Town Council will be holding public hearings and voting on these options at their January 7, 2010 council meeting

Presentation

 

 

Created: 11/29/2009 5:47:49 PM
Updated: 11/29/2009 6:02:33 PM 

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