"The exact tax rate," Williams said, "is .0391 cents per $100 of assessed property value. It will result in an increase between this year’s property tax and next bill of $145.30 for the average homeowner." In total, the Tax will raise $65,000 to cover the cost of the mortgage on the new Town Hall currently under construction.
Williams said that going forward, he hoped the next Town Council "that fortunately we get to vote on in May, will be interested in reducing this Tax as fast as possible." Williams said that there are at least two, if not three ways of reducing or eliminating the Tax, and that should be a discussion sooner rather than later."
Williams then went on to note that not all properties are assessed equally, and some homeowners will be paying more "Town Hall Tax" than others. The Tax will run between $105/year for the least expensive home to $273/year for the most expensive home.
Williams then noted that the longer residents have to pay the tax, the higher the tax will become. "The average Town Hall Tax will rise from $145/year to $269/year 15 years from now."
