Thank you to everyone who attended the candidate forum Tuesday evening. Thank you to the MBA for hosting the event. It was fairly well attended given the other events taking place around Town. It gave us an opportunity to discuss our thoughts on several issues. It became clear that there are significant differences between the candidates. There was discussion on the school bond issue. This is a complicated issue and I think it needs clarification. The revenue (tax dollars) generated from the school bond referendum can only go to pay the school bond off. They cannot be mingled with Town Funds or used for any other purpose. The only logical (and legal) option is to pay off the school bond with those funds. Paying it off earlier than expected is a function of the revenue collected via that tax. This tax also, by law, is required to go away once the school bond is paid off. If the bond is paid off early it is most likely from the additional property tax collected from annexation of Fox Run and Windtree as well as your property values being assessed at a higher rate than expected/projected value. It is my opinion higher than expected assessed value of your property was in part due to the school being here. I would be very wary if someone says “I” or “we” saved you money by paying of the school bond earlier than expected. If you are hearing or have heard this, they are being intellectually dishonest or they do not fully understand the issue. Remember: Once the school bond is paid off that tax must sunset (go away). Regarding taxes: Our property taxes were last raised three years ago in 2011 by the Council. The largest source of revenue to the Town is from property taxes. Raising your property tax rate has a multiplier effect because within the property system is an embedded tax increase. Each time they assess your property (at least every three (3) years) and the assessed value of your property or home increases the amount of taxes you pay increases.
Posted on: Thu, 11 Sep 2014 13:29:27 +0000
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