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so _M Ew r 1,TAX RATE
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<br />Because state revenues to municipalities are not finalized until the State Legislature approves the State's
<br />FY budget, the amount listed here is an estimate provided by the State. The final amount will be changed
<br />accordingly when the State budget has been finalized.
<br />At Pik"
<br />ONN.
<br />The final total of the town's revenues from fees and permits will not be available until the town closes its
<br />books on the FY `10 year on June 30th. While the actual Municipal Receipts used in the FY 10 budget
<br />were some $2,535,500, because there have been essentially across the board reductions in municipal
<br />revenues in FY 10, anticipated receipts of $2,000,000 are being used for this FY 11 budget year. In FY
<br />09 the top 5 sources of municipal revenue were: 1). Motor Vehicle Excise Taxes ($1,868,396); 2. Trash
<br />Disposal Fees ($583,164); 3.Permits and Licenses ($488,042); 4). Earnings on Investments: ($487,299);
<br />5.Other Fees ($145,114).
<br />To supplement non -property tax revenues, $1,519,867 in surplus funds are being appropriated in this
<br />budget. The "free cash" balance starting the FY 11 year will be approximately $205,000. The majority of
<br />"free cash" is generated by municipal departments not spending their allotted appropriations during the
<br />year; the remaining amount is under -anticipated municipal revenues.
<br />Ambulance receipts, betterment reserves, cable television receipts, Medicaid reimbursements, overlay
<br />reserves and Community Preservation Act funds totaling $2,192,145 are being appropriated as non -
<br />property tax revenues in this budget.
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<br />M �an,���r����i-�'r�a� Funds
<br />The non -property tax.funds being applied against this FY 'I I budget total $11,085,999, which is
<br />$1,833,605 less than was used in calculating last year's tax rate.
<br />Total Budget NO t.ons
<br />As presented in the "Summary of Municipal Appropriations" table the FY ' 11 budget is $48,337,923,
<br />including Capital Improvement expenditures, the assessment for the Cape Cod Regional Technical
<br />School, and the Budget Overlay, which is a reserve for uncollected or refunded taxes. This budget is
<br />$929,818, or 1.9%, lower than this budget approved at last May's Town Meeting.
<br />Amount to be,Raised by Property Taxes
<br />The anticipated tax levy as a result of the proposed budget minus the anticipated non property tax
<br />revenues will be $37,251,924. This amount is $820,421, or 2.3%, more than was raised last year. This
<br />Year, because of reduced revenues, property taxes will fund 77% of the municipal budget.
<br />WIN
<br />ota1 Property Assessments
<br />In projecting last year's tax rate, the Finance Committee assumed a 6 % decrease in the total of property
<br />assessments to calculate the projected tax rate of $7.70/$1,000 of assessed value -a $0.71 increase from
<br />the prior year's rate. When the final tax rate was struck last December, the actual decrease in property
<br />assessments for the year was down by 6.2% and the tax rate came in at $7.79 /$1,000. This was $0.09
<br />higher than the projected rate, and $0.80 above the prior year's actual tax rate.
<br />For purposes of calculating a projected tax rate resulting from the approval of this budget, the FinCom is
<br />anticipating a further decrease of 5.5% in the overall total of property assessments bringing the total
<br />value down to approximately $4,420,000,000.
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