The Board of Assessors updated all property values in the Town of Saugus for FY2000. The values met State standards and were certified by the Massachusetts Department of Revenue. The average single family property value increased by 5.6% with an average tax increase of $72.93. The average single family value is calculated at $179,353.

At a public hearing was held on December 14, 1999 where the Board of Selectmen selected a minimal residential factor of 77.4154%. This creates a shift in the tax burden of 164.997% to the commercial class. On December 21, 1999, the Board of Assessors received a tax rate approval from the Department of Revenue. The Residential rate was certified at $11.59 and the Commercial, Industrial, Personal Property rate was certified at $24.71.

FY2000 LEVY LIMIT CALCULATION

FY99 Levy Limit $29,894,924
x 2.5% 747,373
+ New Growth 306,576
FY2000 Levy Limit $30,948,873
Dept Exclusion 202,118
Total With Debt
Exclusion $31,150,991

TAX RATE SUMMARY -- FISCAL 2000

Total Estimated receipts and other revenue sources 20,967,716.00
Net amount to be raised by taxation 31,132,189.35

Total amount to be raised 52,099,905.35

REAL ESTATE VALUATION - FISCAL 2000

Class Tax Rate Levy by Class Valuation

Residential $11.59 17,883,673.00 1,543,026,143

Commercial $24.71 9,518,604.88 385,212,662

Industrial $24.71 2,562,678.92 103,710,195

Personal Property $24.71 1,167,232.55 47,237,254

Totals 31,132,189.35 2,079,186,254

PERSONAL PROPERTY VALUATION INCREASE

Personal Property - Fiscal 2000 47,237,254
Personal Property - Fiscal 1999 45,806,420

TOTAL VALUE INCREASE 1,430,834

TOTAL REAL PROPERTY VALUATION INCREASE

Real Estate - Fiscal 2000 2,031,949,000
Real Estate - Fiscal 1999 1,930,348,800

TOTAL VALUE INCREASE 101,600,200

COMPARISON OF MOTOR VEHICLE EXCISE

Year Number of Bills Valuation Amount

1998 26,871 106,883,502 2,197,336.95
1999 28,340 126,725,456 2,625,254.46

COMPARISON OF BOAT EXCISE

Year Number of Bills Valuation Amount

1998 160 699,500 6,987.00
1999 195 850,700 8,507.00
STATUTORY PROPERTY TAX EXEMPTIONS

Exemption Type Number Granted
Police & Fire Widows 2
Blind (Clause 37A) 31
Elderly (Clause 4lA) 82
Widows (Clause l7D) 98
Veterans (Clause 22) 269
Veterans (100% Disabled) 31
Veterans (Paraplegic) 5
Veterans (Clause 22A, B, & C) 2

Total Exemptions 516

Total Tax Amount of Exemptions $175,524.02
State Reimbursement $ 43,667.88

LOCAL EXPENDITURES
Appropriations 48,935,050.00
Tax Title 25,000.00
Cherry Sheet Offsets 49,737.00
Snow & Ice Deficit 400,720.00
Other 533,662.00

Total Expenditures 1,009,119.00

State & County Cherry Sheet Charges 1,656,561.00
Overlay (Allowance for Abatements & Exemptions) 499,175.35

Total Amount to be Raised 52,099,905.35

ESTIMATED RECEIPTS

Estimated Receipts from State 8,357,225.00
Estimated Receipts from Local 8,815,023.00
Revenue Appropriated for Particular Purposes 3,795,468.00

Total Estimated Receipts 20,967,716.00

BREAKDOWN OF LOCAL ESTIMATED RECEIPTS

Motor Vehicle Excise 2,399,800.00
Other Excise 197,500.00
Penalties & Interest on Taxes & Excise 258,000.00
Payments in Lieu of Taxes 75,500.00
Fees 160,000.00
Rentals/Boards 42,000.00
Departmental Revenue-Libraries 5,000.00
Departmental Revenue-Cemetery 60,000.00
Licenses & Permits 650,000.00
Fines & Forfeits 160,000.00
Investment Income 500,000.00
Miscellaneous Recurring 158,000.00
Miscellaneous Non-Recurring 170,000.00

Total 4,835,800.00