What if there’s a revenue surplus? Will my taxes go down?
The Town recognizes that surpluses are not continuous sources of funding. If the Town depends on a one-time surplus to pay for annual operating costs, it puts off any increased operating costs into the next fiscal year, where a tax increase would likely be required. In recognition of this, and to plan responsibly for the future, Council approved Operating Reserves Policy 1705-01, which requires any surplus to be placed in facilities lifecycling capital reserves. This reserve fund is used to prepare for new facilities included in the 10-year financial strategy.

Show All Answers

1. What do my taxes pay for?
2. What affects my tax bill?
3. When are taxes due?
4. How and where can I pay my taxes?
5. Is there a penalty if I miss the property tax due date?
6. Why do I pay school taxes when I don't have children going to school?
7. What if there’s a revenue surplus? Will my taxes go down?
8. Can I pay my tax bill via a credit card?
9. What if I'm paying property taxes as part of my mortgage?
10. Why does my assessment say "improved?"
11. How can I find the amount I paid in property tax last year?
12. How are property assessments and taxes related?