| |
| |
|
The Board of Assessors updated all property values in the Town of Saugus for FY2001. The values met State standards and were certified by the Massachusetts Department of Revenue. The average single family property value increased by 9.0% with an average tax increase of $71.92 The average single family value is calculated at $195,511.
At a public hearing was held on December 12, 2000 where the Board of Selectmen selected a minimal residential factor of 76.3763%. This creates a shift in the tax burden of 171.720% to the commercial class. On December 18, 2000, the Board of Assessors received a tax rate approval from the Department of Revenue. The Residential rate was certified at $11.00 and the Commercial, Industrial, Personal Property rate was certified at $24.74.
|
| |
| FY2000 Levy Limit Calculation |
| FY99 Levy Limit |
$30,948,873
|
| x 2.5% |
773,722
|
| + New Growth |
356,088
|
| FY2000 Levy Limit |
$32,078,683
|
| Dept Exclusion |
354,895
|
| Total With Debt Exclusion |
$32,433,578
|
| |
| Tax Rate Summary - FISCAL 2000 |
| Total Estimated receipts |
|
| and other revenue sources |
22,758,980.48
|
| Net amount to be raised by taxation |
32,421,856.44
|
| Total amount to be raised |
55,180,836.92
|
| |
| Real Estate Valuation - FISCAL 2000 |
| Class |
Tax Rate
|
Levy by Class
|
Valuation
|
| Residential |
$11.00
|
18,627,102.23
|
1,693,133,107
|
| Commercial |
$24.74
|
9,971,568.90
|
403,131,973
|
| Industrial |
$24.74
|
2,668,286.36
|
107,873,720
|
| Personal Property |
$24.74
|
1,154,898.95
|
46,690,033
|
| Totals |
$
|
32,421,856.44
|
2,250,828,833
|
| |
| Personal Property Valuation Increase |
| Personal Property - Fiscal 2001 |
46,690,033
|
| Personal Property - Fiscal 2000 |
47,237,256
|
| Total Value Increase |
547,223
|
| |
| Total Real Property Valuation Increase |
| Real Estate - Fiscal 2001 |
2,204,138,800
|
| Real Estate - Fiscal 2000 |
2,031,949,000
|
| Total Value Increase |
172,189,800
|
| |
| Comparison of Motor Vehicle Excise |
| Year |
Number of Bills |
Valuation |
Amount |
| 1999 |
28,340 |
126,725,456 |
2,625,254.46 |
| 2000 |
28,626 |
128,370,600 |
2,685,153.85 |
| |
| Comparison of Boat Excise |
| Year |
Number of Bills |
Valuation |
Amount |
| 1998 |
195 |
850,700 |
8,507.00 |
| 1999 |
207 |
909,500 |
9,203.00 |
| |
| Statutory Property Tax Exemptions |
| Exemption Type |
Number Granted
|
| Police & Fire Widows 2 |
3
|
| Blind (Clause 37A) 31 |
31
|
| Elderly (Clause 4lA) 82 |
82
|
| Widows (Clause l7D) 98 |
89
|
| Veterans (Clause 22) 269 |
265
|
| Veterans (100% Disabled) 31 |
33
|
| Veterans (Paraplegic) 5 |
5
|
| Veterans (Clause 22A, B, & C) 2 |
4
|
| Total Exemptions 516 |
512
|
| Total Tax Amount of Exemptions |
$179,583.72
|
| State Reimbursement |
$44,800.10
|
| Appropriations |
52,652,879.48
|
| Revenue Deficits |
171,081.00 |
| Cherry Sheet Offsets |
48,608.00 |
| Snow & Ice Deficit |
193,558.00 |
| Total Expenditures |
413,247.00
|
| State & County Cherry Sheet Charges |
1,616,672.00
|
| Overlay |
|
| (Allowance for Abatements & Exemptions) |
498,038.44
|
| Total Amount to be Raised |
55,180,836.92
|
| Estimated Receipts from State |
9,178,945.00
|
| Estimated Receipts from Local |
9,175,838.00
|
| Revenue Appropriated for Particular |
4,404,197.48
|
| Purposes |
|
|
Total Estimated Receipts
|
22,758,980.48
|
| |
| Breakdown of Local Estimated Receipts |
| Motor Vehicle Excise |
2,559,316.00
|
| Other Excise |
217,528.00
|
| Penalties & Interest on Taxes & Excise |
232,610.00
|
| Payments in Lieu of Taxes |
89,693.00
|
| Fees |
210,187.00
|
| Rentals/Boards |
50,510.00
|
| Departmental Revenue-Libraries |
8,900.00
|
| Departmental Revenue-Cemetery |
63,000.00
|
| Licenses & Permits |
850,000.00
|
| Fines & Forfeits |
151,125.00
|
| Investment Income |
400,000.00
|
| Miscellaneous Recurring |
161,395.00
|
| Miscellaneous Non-Recurring |
59,600.00
|
| Total |
5,053,864.00
|
|
|
