Tax rate was approved


Email from Mike –


The tax rate for fy15 was approved today by the Dept. of Revenue. It is $16.04, which is a decrease of $0.08 from the  $16.12 fy 14 rate. However, the property values on average increased by 5%, so the levy increase is about 4% and if you take out new growth about 3%. The Propositions 2 1/2 levy limit looks greater than it is because we included $155,000 in the levy, which is 1/2 of the first annual installment for the hospital purchase. Since it is an override debt exclusion it increases the allowable levy limit, but the funds to cover the %155,000 we raised by increasing the local receipts, so it raises the levy limit by that amount for just fy 15. Confusing ain’t it. Have a good weekend. Mike


From: recapdata@dor.state.ma.us

Sent: Thursday, November 20, 2014 9:01 AM

To:

Subject: Tax Rate Approval Notification

Massachusetts Department of Revenue Division of Local Services

Amy Pitter, Commissioner

Robert G. Nunes, Deputy Commissioner & Director of Municipal Affairs

Medfield Assessors                Date: Thursday, November 20, 2014

Dear Assessors:

The Fiscal Year 2015 tax rate has been certified by the Bureau of Accounts for Medfield.

The four pages of the tax rate recapitulation form and the levy limit worksheet (not

applicable to districts) are available on the Division of Local Services website:

Tax Rate Recapitulation Form

Levy Limit Worksheet

Page one of the tax rate recapitulation form includes the Director of Accounts’ electronic

signature and the date of approval. This letter is your notification of approval pursuant to

Massachusetts General Laws Chapter 59, section 23. Please forward copies of this notification

to other officials as you deem appropriate.

We wish to thank you for your cooperation and assistance in the tax rate setting process.

Sincerely,

Gerard D. Perry

Director of Accounts

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