HomeMy WebLinkAboutWaitt and Amelia Drive Ballot Question_202003111037357054Tax Rate Information
Estimated Tax Increase
Est.Res Est. Inc.Est. Com Est. Inc.
Est.
Open
Space Est. Inc.Avg Res Value
Median Yr
Round
Avg. Year
Round with
Res.
Exemption CIP*
Open
Space**
Override Purpose TYPE Amount***Tax Rates Res. Tax Tax Rates Com. Tax Tax Rates
Open
Space $2,114,472 $1,149,700 $1,377,064 $2,000,000 $118,682
Capital Equipment Exclusion Capital Exclusion $1,162,712 3.50 $0.0475 5.94 $0.0818 3.33 $0.0427 $100.50 $54.64 $40.32 $163.53 $5.06
$1,162,712Newtown Road Debt Exclusion $1,154,105 3.45 $0.0034 5.87 $0.0068 3.29 $0.0006 $7.21 $3.92 $2.89 $13.64 $0.07$84,965 Childrens Beach Debt Exclusion $3,300,000 3.46 $0.0099 5.88 $0.0178 3.30 $0.0068 $20.88 $11.35 $8.38 $35.59 $0.80
$242,820 Surfside Area Roads Debt Exclusion $3,272,892 3.46 $0.0098 5.88 $0.0177 3.30 $0.0067 $20.70 $11.26 $8.31 $35.31 $0.79Phase II, Lover's Lane $240,807
Our Island Home Permanent $5,000,000 3.65 $0.2046 6.21 $0.3486 3.48 $0.1923 $432.62 $235.23 $173.59 $697.22 $22.82
Assumptions are based on FY 2020 approved values and tax rates using a shift of 1.70 and Residential Exemption of 25%FY 2020 Residential Tax Rate is $3.45 per thousand.
FY 2020 Commercial Tax Rate is $5.86 per thousand
*CIP=Commercial, Industrial and Personal Property. $2,000,000 was selected as the benchmark assessment for commercial properties. The true average commercial property value is $1,520,366. Most of the resort and retail parcels are mixed use.**There are currently 17 properties classified as Open Space. Their average value is $118,682FY 2020 Open Space Rate is $3.29 per thousand.
Nantucket has not adopted an "Open Space Discount". The only difference between the Open Space and Residential Rates is the cost of the Residential Exemption.
***Principal and Interest charges are based on 4% over 20 years
2020 Annual Town Meeting & Election
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Waitt & Amelia Drive Debt Exclusion $3,721,200 3.46 $0.0111 5.88 $0.0200 3.30 $0.0080 $23.56 $12.81 $9.45 $39.90 $0.95(Supplemental)$273,812
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