Rising Property Values Will More Than Pay For New Taxes
Rising Property Values Will More Than Pay For New Taxes
To the Editor:
Shame on all those Newtown residents that voted against the budget because their taxes went up as a result of the revaluation. Your taxes went up because you became wealthier and now it is time to pay your fair share. If your house went up $100,000 in assessed value, it means that your house is worth roughly $140,000 more than it was at the last revaluation. That is money you made by simply living in this town.
Long ago, it was agreed that we pay based on what we are worth, not on what we use. If your house was assessed at $100,000 before and now at $200,000, your taxes went up just $1,700, yet you are worth $140,000 more. For those crying that they are on a fixed income, go take out a home equity loan on your new found wealth; even with the interest, you could pay the additional taxes for the next 50 years without having it impact your fixed income.
As for those who are operating under the misguided perception that the new houses are what is driving the increase in taxes, wake up and realize that the new houses are paying between $12,000 to $20,000 a year in property taxes, and they donât send any more kids to the schools than the houses that pay substantially less. At a cost of $7,000 to $9,000 to educate each child, you do the math as to who is subsidizing who.
It is a fact that it costs more to educate students today. The computer needs, the up-to-date science classrooms, the music facilities, and the extra curricular activities are all important and costly. Our kids are better educated than we were, are exposed to so much more than we were, and simply have so many more opportunities than we did. This all costs money. If you havenât been to our schools lately, go visit them and see what your money has been buying.
The kids that we are sending to school today are the ones who will be paying our future fixed incomes! Use some of that money that you made and invest in our children so that your fixed income doesnât get cut.
The main reason for your tax increase is the revaluation and not an out of control budget. Of course, no one likes to pay more taxes, but if your net worth has increased by living in Newtown, then please do your fair share and support the budget. It is one thing to vote against a budget that you think is unfair, but if youâre just too selfish to pay your fair share, you will be punishing children and compromising the future of our town.
Respectfully,
Kim J. Danziger
5 Stonewall Ridge Road, Newtown                             April 29, 2003