05/04/2009 Annual Town Meeting - Laserfiche WebLink

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1, NOTES TO CALCULATION OF PROJECTED FY 10 TAX RATE ' i NOTE 1. State Aid Reimbursements. I ' Because state revenues to municipalities are not finalized until the State Legislature approves the State's FY budget, the amount listed here is an estimate provided by the State. The final amount ry will be changed accordingly when the State budget has been finalized. 5 i NOTE 2. Municipal Receipts. i '+ rom fees and permits will not be available until the town s The final total of the town's receipts f closes its books on the FY `09 year on June 301h. While the Municipal Receipts in FY 10 were ^, 7 some $3.35 million, because there has been a substantial decrease in building permit fees j received in FY 09, receipts of$2,600,000 are being used in preparing the anticipated revenues , s for this FY '10 budget year. s NOTE 3. Surplus Funds or "free cash". ! ; To supplement non-property tax revenues, $2,129,992 in available surplus funds are being appropriated in this budget. NOTE 4. Other Available Municipal Funds. Funds from accounts for ambulance receipts, betterment reserves, and Community Preservation Act funds totaling $2,425,563 are being appropriated as non- property tax revenues in this I' budget. 9 NOTE 5. Total Non-Property Tax Funds. a` The non-property tax funds being applied against this FY '10 budget total $13,191,044, which is $927,958 less than was used in projecting last year's tax rate. NOTE 6. Total Budget Appropriations ' As presented in the "Summary of Municipal Appropriations" table the FY '10 budget is t; $49,267,731, including Capital Improvement expenditures, the assessment for the Cape Cod Regional Technical School, and the Budget Overlay, which is a reserve for uncollected or refunded taxes. This budget is $652,877, or 1.3%, higher than last year. NOTE 7. Amount to be Raised by Property Taxes. The anticipated tax levy as a result of the proposed budget minus the anticipated non property tax revenues will be $36,076,687. This amount is $1,209,940, or 3.5%, more than was raised last year. Property taxes fund 73% of the municipal budget. NOTE 8. Total Property Assessments. In projecting last year's tax rate, the Finance Committee assumed a 5 % decrease in the total of property assessments to calculate the projected tax rate of$7.20/$1,000 of assessed value-a$0.62 increase from the prior year's rate. When the final tax rate was struck last December, the actual I decrease in property assessments for the year was down by only 1.5% and the tax rate came in at "! $6.99 /$1,000. This was $0.21 lower than the projected rate, but $0.43 above the prior year's actual tax rate. t G 15