Panton and Waltham residential taxpayers see modest decreases
PANTON/WALTHAM — Homeowners in both Panton and Waltham saw modest decreases in their property tax bills when they opened them recently compared to their 2017-2018 bills. Owners of commercial property and second homes in both towns saw essentially level taxes compared to a year ago.
Panton’s residential rates remain lower than those from two years ago, although non-residential rates have risen by about 5.5 cents. A drop in the town portion of the tax bill is offsetting higher school rates.
In Waltham the town portion of the rate has remained almost constant over the past three billing cycles, while the residential and commercial school tax rates have decreased by more than 14 cents and 7.5 cents, respectively, in the same time frame.
Both communities benefitted from the third-year, 6-cent tax break awarded to Addison Northwest School District voters for backing unification in March 2016.
In setting this year’s municipal tax rate at 43.73 cents, including a veterans’ exemption, the Panton selectboard used a surplus of more than $140,000 of unspent funds from the 2017-2018 fiscal year to lower the town rate from 55.16 cents.
That 11.16-cent decrease offset a 9.48-cent increase in the homestead school rate to $1.6502.
Overall, Panton’s new homestead tax rate is $2.0884, a 1.86-cent decrease from the 2017-2018 fiscal year.
That decrease will translate to $18.60 less in taxes per $100,000 of assessed value, assuming homeowners pay on the full assessed value of their properties.
Panton’s $2.0884 homestead rate is also about 2 cents lower than its 2016-2017 homestead rate. The homestead rate was basically level between two and three years ago.
Panton’s non-residential school tax rate this year rose by 11.85 cents to $1.5819, meaning the lower town rate did not fully offset a higher state commercial rate.
The resulting increase of 0.51 cents will mean a $5.10 in additional taxes for every $100,000 of assessed non-residential value.
That new non-residential rate is about 3.5 cents lower than the 2016-2017 commercial rate. That change translates to $35 of lower taxes per $100,000 of assessed value.
A year ago Waltham residents saw their overall homestead rates plunge by 10.61 cents to $2.0442.
This year sees another 3.49-cent decrease to $2.0093.
Of that drop, 2.99 cents comes from a lower homestead rate, a decrease to $1.6293, and the rest came from a reduction in the town rate from 38.5 cents to 38 cents.
In all, homeowners who pay on the full value of their properties will pay about $35 less per $100,000 of assessed value.
And overall Waltham homeowners are paying $141 less per $100,000 than they were three years ago.
Non-residential property owners are seeing their rates drop by 0.42 cent to $1.9419 and will pay within a few dollars of the same amount of taxes.
Waltham’s commercial rate three years ago was $2.0169, meaning the rate is now 7.5 cents lower, which translates to $75 in lower taxes per $100,000 of assessed value.
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