Franklin, MA 2011 Tax Rate Information
12
Franklin, MA Fiscal Year 2011 Tax Information From the Board of Assessors information package for 12/08/10 Town Council Meeting and MA Gov DOR website Prepared by Steve Sherlock FranklinMAtters.blogspot.com/
-
Upload
franklin-matters -
Category
Documents
-
view
1.430 -
download
3
description
Information to prepare for the tax rate hearing to be held at the Town Council meeting, Dec 8, 2010.
Transcript of Franklin, MA 2011 Tax Rate Information
Franklin, MA Fiscal Year 2011 Tax Information
From the Board of Assessors information packagefor 12/08/10 Town Council Meeting
and MA Gov DOR website
Prepared by Steve SherlockFranklinMAtters.blogspot.com/
Prepared by Steve Sherlock - Franklin Matters Page 2
How do we calculate the tax rate?
FY 2010 Levy Limit 50,991,490$ Add 2.5% 1,274,787$
Add FY 2011 New Growth 513,322$ FY 2011 subtotal 52,779,599$
Add Debt Exclusions 1,546,134$
FY 2011 Max Levy Limit 54,325,733$ Less excess levy capacity 35,497$
FY 2011 Tax Levy 54,290,236$ FY 2011 Assed Value 4,192,296,244$
Annual Tax Rate 12.95%
Prepared by Steve Sherlock - Franklin Matters Page 3
14.21% at 1997
8.86% at 2007
Franklin Tax Info: Tax Rate
0
2
4
6
8
10
12
14
16
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Year
Tax
Rat
e
Prepared by Steve Sherlock - Franklin Matters Page 4
Franklin, MA: Net Change In Assessed Value vs. Tax Rate
-400
-200
0
200
400
600
800
1000
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
year
Asse
ssed
Val
ue ($
M)
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
Perc
ent
Prepared by Steve Sherlock - Franklin Matters Page 5
14.21% at 1997
8.86% at 2007
Franklin Tax Info: Avg Tax Bill vs Tax Rate
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Year 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year
Avg
Tax
Bill
0
2
4
6
8
10
12
14
16
Tax
Rate
Prepared by Steve Sherlock - Franklin Matters Page 6
Residential vs. Commercial/Industrial Mix over the years
1988 – high point for Residential at 82.12%; 1993 - low point at 77.04%
Year Residential Commercial/Industrial1999 79.43% 20.57%2000 79.05% 20.95%2001 79.40% 20.60%2002 78.92% 21.08%2003 78.58% 21.42%2004 77.99% 22.01%2005 78.72% 21.28%2006 79.79% 20.21%2007 79.97% 20.03%2008 79.30% 20.70%2009 78.16% 21.84%2010 78.07% 21.93%2011 79.41% 20.59%
Prepared by Steve Sherlock - Franklin Matters Page 7
Franklin Tax Base: Residential vs. Commercial/Industrial Mix
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Year
Perc
ent
Prepared by Steve Sherlock - Franklin Matters Page 8
To reduce the residential rate by $1, the commercial/industrial folks would see an increase of $4. A split tax will not do anything to resolve Franklin’s problems.
A split tax will only shift a share of the pie from one group of taxpayers to another.
Franklin needs to GROW the pie!
Grow the Pie
Residential, 79.41%
Commercial/Industrial, 20.59%
Prepared by Steve Sherlock - Franklin Matters Page 9
Resources
• The Board of Assessors information came from the package for the Town Council meeting scheduled for 12/08/10
http://franklinma.virtualtownhall.net/Pages/FranklinMA_CouncilAgendas/2010tc/12082010agenda.pdf
• The Dept of Revenue numbers came from the MA.GOV website– MA. GOV
• Dept of Revenue– Division of Local Services
» Municipal Data Bank» Data Bank Reports
Prepared by Steve Sherlock - Franklin Matters Page 10
Questions?
Feel free to contact
Steve SherlockCommunity Information Director (volunteer)
for Franklin Matters
http://franklinmatters.blogspot.com/
Appendix
Prepared by Steve Sherlock - Franklin Matters Page 12
Franklin: Free Cash & % of Budget over Years
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
FY Period
Dolla
rs
0.00
2.00
4.00
6.00
8.00
10.00
12.00
Perc
ent o
f Tot
al B
udge
t
