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Last night City Council meeting had a number of issues of interest to Lowell residents. But the number one topic of interest was the property tax rate. If you missed the televised proceedings, you can watch a replay on (Lowell Telecommunication Corporation) LTC, Channel 10. (check their web site for replay time or to watch the video).
First of all, the good news: Currently residential tax rate is $10.61 per $1,000; CM Bernie Lynch reported that preliminary indications are that next year’s rate will be $10.56 – $10.72/$1,000. Commercial Property tax rate is currently at $20.97 per $1,000; next year’s estimated tax rate for commercial property will be between $21.18 and $21.52 for $1,000. Good news all around, I think.
No one wants their taxes to go up but many towns across Massachusetts would love to have this tax rate. All this will be finalized when the State’s Department of Revenue gives these figures the go ahead.
In response to a question from City Councilor Joe Mendonca, CM Lynch gave a quick review of Proposition 2 ½. which I greatly appreciated. The bottom line is that by law the City has $5 Million available to tax us; the bad news is that the City has $5 Million available to tax us. But given the current administration’s awareness for fiscal responsibility and the overall sentiment not to raise taxes, I do not think anyone is going to even put this $5 million in play. But it is nice to have that cushion.
Additional good news: this year, we have been able to stabilize our financial situation. Fee Cash is no longer in a negative situation. Lowell continues to have a lower tax rate than the majority of Massachusetts’ community. So, good news all around! And if you have not had a chance to check out your property’s specific re-evaluation information, click on to the City’s Geographic Information System (GIS) and then follow instructions to find the information.
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October 18th, 2007 at 11:18 am
Personally, I find it a little insulting that Lowell does not take its total available increase in taxes each year, yet has no problem grabbing … and calling for more… local aid.
All the smaller towns around them act responsibly, in that they tax themselves to the legal limit before asking for more from the state.
As much as I hate taxes, I find it irresponsible for anyone to ask others for help before doing everything they can within their own community first.
October 18th, 2007 at 11:44 am
Now, don’t try to have us believe that Dracut hasn’t asked for more. Realize the levy limit was baselined many years ago, and did not directly relate to affordability of property taxes. The City Manager has taken the position that taxing to the levy limit would not be affordable for many in the city, therefore he controls expenses and makes full use of the State aid to lessen the tax burden. You ought to try it.
October 18th, 2007 at 3:32 pm
God forbid that we don’t tax ourselves to the limit.. (or to the frickin’n poorhouse)
October 18th, 2007 at 5:16 pm
Love the liberal attitude..
Taxes are great.. as long its not to me.
October 18th, 2007 at 7:03 pm
Shawn:
You are lucky that Lowell doesn’t start taxing Dracuteers who come in to our City on Saturday morning. Actually, we are thinking of putting a few toll booths on Central Street.
October 18th, 2007 at 9:16 pm
I’ve got no problem with helping economically distressed communities keep their taxes lower. It attracts investment where it’s needed, and helps keep housing costs lower where people feel the bite the most. And it steers development towards redeveloping established urban areas instead of wiping out open space in the boonies.
That’s why we get more school aid per capita, too.
And why the School Building Program reimburses 90% of our costs, but only 60% or 80% of richer communities’ costs.
It’s just good policy.
October 18th, 2007 at 11:24 pm
Mimi,
Now, we can move the toll booths down to Merrimack St. (of course, only operatinal on Saturday mornings and only for those named Shawn ;0) )