Most taxpayers won’t see much change in their bills
By Jennifer Eisenbart
Editor
For too many years to count, when the City and Town of Burlington needed to do a property revaluation, it was because the assessed value of homes was on the rise.
With the recent economy, this year’s revaluation was triggered because of value going the other direction.
“Market values have dropped, that’s why we’re doing the re-val,” said City Treasurer Steve DeQuaker.
State law requires that if assessments are off by more than 10 percent above or below market value, a revaluation must be done.
Both the city and town recently completed the revaluation process, and hearings are being scheduled for anyone looking to contest the value.
“They didn’t like the property value,” said Town Administrator Diane Baumeister of the challenges for a board of review that had to be filed by Tuesday. “They’re fighting it because they don’t agree with what it is.”
The good news, though, is there isn’t likely to be much change in the property tax bills that will be issued in December.
“From a tax standpoint, the levy is the levy,” said DeQuaker, in terms of the total amount the city would ask for in taxes. “Someone’s tax bill, if their property value has dropped, they will have the same bill as last year.”
To put it in simple terms, both the levy and market valuations fall into the same piece. If market values go up or down, the mill rate is adjusted to compensate.
However, the amount being taxed has dropped, so the theory is most tax bills will remain roughly the same – assuming the city or the town do not raise their levies.
“If you paid a $5,000 tax bill last year, assuming the tax levy remains the same, you will pay $5,000 this year,” DeQuaker said.
Added Baumeister, “We really don’t have to raise the tax rate more than a couple of cents to keep the tax rate the same.”
See the Sept. 26 print edition of the Standard Press for frequently asked questions regarding the revaluation.
The next step in the tax process will come in the next few weeks as both the city and town hold their budget workshops. From there, both will determine just what they need for a tax levy to cover costs.
The town has held its rates steady over the last 5-6 years, while the city has had minor increases.
The city’s budget workshops – which include the City Council – will be held at the Combined Department of Public Works Building at 2200 South Pine Street in the community room from 5:30-8 p.m. on five different dates.
Those dates are:
• Oct. 9: Public library, fire and police budgets.
• Oct. 23: Public Works and other area budgets.
Nov. 6: Policy discussions and final reviews
Nov. 19: Public Hearing on Budget (a separate public notice will be posted).
Dec. 3: Budget adoption by the City Council.
For the Town of Burlington, budget meetings will be held on Oct. 23 and 24.
The meeting on the 23rd will begin at 6 p.m. and the meeting on the 24th will begin at 5 p.m.
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