Home Forums Legislation Holding MV bills & tangible exemption/tax cap question Reply To: Holding MV bills & tangible exemption/tax cap question

Chris Celeste
Keymaster
Post count: 13

for MV:
1) Smithfield will hold of until there is a codified budget so we do it once and do it correctly.
2) It’s my understanding that they would give the full FY18 baseline for reimbursment, so no budget issues.

Tangible:
That rate cap provision is only if a town implements a tangible exemption. Which is so assinine. They want us to reduce the assessments, then move the burden to some other tax class instead of increasing the tangible rate to keep the tangible levy flat? WTF you can’t make this stuff up. I swear no one (that proposes bills) understands tax policy or the difference between rate and levy.