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Fri, 04/23/2021 - 1:00pm
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The Town of New Shoreham proposes to increase its property tax levy to $11,330,036 in the 2021-2022 budget year; the property tax levy this year is $10,697,375. The FY
2021 and FY 2022 tax levies have excluded motor vehicle excise tax for the purpose of determining tax levy growth pursuant to current law. THIS IS A PROPOSED INCREASE OF 5.91%.
It has been estimated that the proposed increase in property tax revenues will result in a property tax rate of $6.68 per $1,000 of assessed valuation, as compared to the current property tax rate of $6.36 per $1,000 of assessed valuation.
The preliminary FY 2021-2022 motor vehicle levy includes taxes on motor vehicles at an unchanged rate of $9.75 per $1,000 of assessed valuation, which includes the exemption amount provided by the state’s motor vehicle excise tax phase-out legislation up to $5,000.