HomeMy WebLinkAboutFINAL Tax Rate Impacts for WEBSITE 2022 ATM-ATE 041322_202204280748395988Town of Nantucket
Tax Rate Information
Median Yr
Round
Avg. Year
Round
Avg. Yr Round w
Residential
Exemption
Ballot Question Article Override Purpose TYPE Amount $1,143,600 $1,358,369 $817,350.00
1 11 Our Island Home Facility-Design/OPM Debt Exclusion $8,500,000 $28.04 $33.31 $20.04 2 12 Renovate/reconstruct Harbormaster Building (Supplemental Funding)Debt Exclusion $2,000,000 $6.62 $7.86 $4.73
3 13 Pleasant Street Repaving with Improved Sidewalk-Silver to Main Debt Exclusion $2,000,000 $6.62 $7.86 $4.73
4 14 Loran Seasonal Housing Repairs Phase 2 Debt Exclusion $4,500,000 $14.86 $17.65 $10.62 5 15 Nantucket Public Schools-Campus-wide Improvements Debt Exclusion $5,600,000 $18.48 $21.96 $13.21
6 16 2 Fairgrounds Office Building- Design & OPM Debt Exclusion $6,000,000 $19.80 $23.52 $14.15
7 17 Seasonal Employee Housing-Construction Debt Exclusion $8,500,000 $28.04 $33.31 $20.04
8 18 PFAS Groundwater soil investigation Debt Exclusion $2,000,000 $6.62 $7.86 $4.73
9 19 Real Estate Acquisition: 10-12 Washington Street Debt Exclusion $4,750,000 $15.68 $18.63 $11.21
10 20 Affordable Housing Trust Debt Exclusion $10,000,000 $32.99 $39.18 $23.58
11 10 Capital Exclusion Capital Exclusion $1,176,000 $52.71 $62.61 $37.67
13 10 Water Mains West of Nantucket Memorial Airport Debt Exclusion $9,000,000 $29.69 $35.27 $21.22
$309.02 $185.94
Assumptions are based on FY 2022 approved values and tax rates using a shift of 1.70 and Residential Exemption of 25%FY 2022 Residential Tax Rate before the Debt Exclusion or Capital Expenditure is $3.74 per thousand. FY 2022 Commercial Tax Rate before the Debt Exclusion or Capital Expenditure is $6.40 per thousand*CIP=Commercial, Industrial and Personal Property. $2,000,000 was selected as the benchmark assessment for commercial properties.
**There are currently 18 properties classified as Open Space. Their average value is $118.222FY 20221 Open Space Rate before the Debt Exclusion or Capital Expenditure is $3.43 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
Estimated Tax Increase