To the Editor:
Mayor Smith sent a letter to all city property owners with the tax bill that the city is in the process of changing from a “fiscal year budget” to a “calendar year budget.” This transitional year budget, which was just approved by the municipal council, contains “no increase” in your city property taxes. Your bill for the first and second quarters of 2012 includes a decrease in the new calendar year budget! I disagree with what he says.
The 2010 municipal budget tax rate was $6.288 per $100 or $62.88 per $1,000 property valuation. The 2011 municipal tax rate is $6.847 per $100 or $68.47 per $1,000 property valuation. How can you take a higher tax rate from a lower tax rate and say you will have a decrease in taxes?
For example, take your total property assessment, land and improvements and multiply it by the 2011 tax rate of $62.88. Now take your total property assessment and multiply it by the 2011 tax rate of $68.47 and compare the two years! It will not show a decrease, but rather an increase of $5.59 dollars per $1,000 valuation of property! No matter what the city says, the true figures will prevail. Let the property owner beware! Halloween is over!
LEONARD R. KANTOR