ADDISON — Addison’s overall residential property tax rate is rising by almost 18 cents or 8 percent, while the commercial non-residential rate — a category that includes seasonal homes, of which there are many in Addison — is rising by about 10 cents, or roughly 5 percent.
The Addison selectboard set the town’s municipal property tax rate on Friday, July 19, at 44.3 cents, an increase of less than a penny. That rate includes a 0.015 of a penny for a local exemption tax that allows Addison to give property tax breaks to disabled veterans.
The board at the same meeting extended to Aug. 19 the town’s 2 percent discount to taxpayers who pay their taxes early. Town Clerk Marilla Webb emphasized the discount applies only to the town portion of the overall tax rate, but does not apply to the small local exemption tax. She cautioned residents to calculate discounts on the basis of the 0.4415 town rate only and not the small additional rate. Addison property taxes are due in full on Nov. 1.
The total Addison residential rate rose from $1.9810 per $100 of assessed property value to $2.1587, largely due to an increase in the homestead school tax rate of about 17 cents to $1.7157. Declining Addison Northwest School District enrollment and steadily increasing fixed costs continue to pressure ANWSD tax rates.
That increase in Addison translates to an additional $170 of taxes per $100,000 of assessed value to residential taxpayers who pay on the full value of their property. Residents who pay based on their incomes are likely to receive prebates for a portion of their school tax bills. About two-thirds of county residents receive prebates, according to state data.
This year’s increase follows a residential school-tax increase of 4.82 cents a year ago and a decrease of about 13 cents in the 2016-2017 Addison residential rate.
Overall, in the past three years Addison’s school tax rate has increased by about 9 cents, or 5 percent.
Addison’s total new non-residential rate stands at $2.017, a 9.99-cent increase. It includes the town’s municipal rate and a state non-residential rate of $1.574.
Last year’s Addison non-residential rate was $1.9171. Non-residential taxpayers in Addison will pay about $100 more per every $100,000 of assessed value.
Addison’s Common Level of Appraisal (CLA) is helping, at least a little, keep tax rates in check. The town’s CLA is 101.27, meaning the state’s tax rates are being adjusted downward by slightly more than 1 percent because Addison’s valuations are, on average per Department of Taxation calculations, slightly higher than market value.