Thursday, May 31, 2012

Every Penny Counts


Anonymous said...

It's not a conspiracy: the tax rate has to be "perfect" so that it levies exactly what was approved by the Council. In order to accomplish that, the overlay is adjusted slightly and the resulting tax rates can fluctuate up or down by a penny or so when the final math is completed. The Council doesn't technically vote a tax rate anyway: they vote for a residential factor which establishes the ratio of taxes paid by residential and business. The DOR approves the final actual rate subject to rounding as needed to ensure no overage or shortfall

virginia ryan said...

I think this ANONYMOUS sounds EXACTLY like Assessor Ford but maybe I'm wrong. This mumble jumble sounds exactly like Assessor Ford,in other words,it makes no sense.
If the DOR rounded off like this ANONYMOUS (AKA MR. FORD ???) states,then they would round off to the nearest nickel (in this case to $29.10).
Furthermore, why didn't they round off the residential rate of $16.98 to $16.97?

Anonymous said...

Even if it is Ford, this is a point that few if any taxpayers know about. Maybe AWARE can help us understand the process that sets rates? Based on the comment, it sounds to me that the State can overrule a local real state tax decision by a legislative body (council).

Is that a fact? I'm curious. AWARE what do you have to say?

J. Crowell, AWARE Director said...

Assessor Ford submitted the State Tax Form 31C on May 23, 2012 at 9:13AM, with the CIP tax rate of $29.07. The DOR approved the residential rate of $16.98 and the $29.07 CIP rate on May 24, 2012 based on the information provided by Assessor Ford on State Tax Form 31C. The tax rate table and line item that the City Council approved and voted on didn't show the combination of rates that Assessor Ford submitted.