Friday, April 21, 2023

How Property Taxes have Shifted over the Past 10 Years

The county sets the base proportions for taxes each year - the percent of the total tax levy each class of property will pay. Essentially, utilities are paying a smaller share, and other classes are paying a larger share. Local businesses, though, have not been particularly impacted. But the shift in taxes from utilities to homeowners - through this process, through granting PILOTs, moving utility property to a municipality, and granting assessment reductions to utilities - changes how even a modest 2% tax increase looks to someone with a single family home.

 Class 1-Homeowners                    Class 2-Condos          Class 3-Utilities       Class 4-Other Commercial

 
 
 
 
The difference gets more dramatic as you go further back in time:
 
Source: Budget Narratives & Reports 2022-23 
https://northshoreschools.org/boe/Budget/2023/Budget-Narratives-Reports-2023-24-02-23-23.pdf