How Does the Town Determine My Municipal Property Taxes?

Property taxes are a primary source of revenue for municipalities and are used to finance local programs and services. Each year, municipalities determine the amount of money they need to operate and from this amount, known revenues such as licenses, grants, permits, and user fees are subtracted. The remainder (revenue requirement) is the amount of money the municipality needs to raise through property taxes to provide services for the year. The primary goal is fair and equitable distribution of tax.

The property tax payable is calculated by multiplying your taxable property assessment by the tax rate. The tax rate is determined by dividing the total revenue by the total assessment base of the municipality.

Show All Answers

1. How do I get a copy of my property tax bill?
2. What is the penalty for late payments?
3. How do I appeal my assessment if I believe that my property assessment is unfair or inaccurate?
4. What does my tax bill cover?
5. What are Education taxes?
6. Why do I pay for school taxes when I don't have children going to school?
7. What is meant by Assessment and Taxation?
8. How was my assessment value determined?
9. What is a Tax Rate?
10. How are my property taxes determined?
11. What is the supplementary assessment?
12. Why does my assessed value differ from my bank mortgage appraisal or real estate appraisal?
13. How Does the Town Determine My Municipal Property Taxes?
14. What is Market Value?
15. How is Market Value Determined?