SOUTHWICK – The Board of Selectmen approved a tax classification factor of one this week.
The single tax rate means that residents and business owners will continue to be taxed at the same rate. Many communities have separate rates for residents and commercial and industrial properties often shifting the burden to the businesses.
The Board of Assessors recommended the single rate once again and said although the numbers are not yet certified by the state they estimate the rate will be $17.10 per $1000 in property valuation.
The estimated rate is 16 cents higher than the current rate of $16.94.
Chief Administrative Officer Karl Stinehart said that amount does include the school assessment and debt service.
“It includes short-term borrowing but does not include the last stepping in of $7 or 8 million (for the schools)” said Stinehart. “That will come up in the FY17 budget.”
