What The Budget Will Actually Cost You
To The Editor:
There have been posts on Facebook suggesting the school and municipal budget will cost you, the taxpayer, $700 plus dollars. These claims don’t explain how our taxes work and are aimed at scaring you, the voter.
Your taxes are closely related to the value of your home. The owner of a home valued at $400,000 will have a lower tax increase than the owner of a home valued at $800,000. Real estate taxes recognize the homeowner’s ability to pay, with owners of lower valued homes paying less than owners of higher valued homes.
The budget going to referendum in two weeks will raise taxes, and that’s not surprising given the inflation we have seen the last few years. Salaries and health care costs have impacted both the school and town budgets.
Here are some examples of recently sold Newtown homes and what their owners can expect to pay in increased taxes based on the budgets proposed:
A $425,000 home sale will have a total tax increase of $396.
A $320,000 home sale will have an increase of $314.
A $520,000 home sale will have an increase of $472.
Higher valued homes will pay more:
A $725,000 home sale will have an increase of $690.
A $990,000 home sale will have an increase of $999.
We can all help pay for the budget increase based on our home affordability. We will continue to have carefully funded school and municipal services by sharing the burden.
Let’s continue to support our community by voting “yes” on April 22.
Bruce Walczak
Newtown
Bruce, I think you are referencing the RTC posts which clearly state that those potential tax payments are based on a home valued at $600K. Its interesting that your numbers differ from the RTC’s and I imagine that the truth lies somewhere in the middle. I think that your assertion that there is a scare tactic involved is disingenuous. People are already struggling with the cost of living increases we’ve seen over the last 3+ years. Just because these potential tax increase seem small to you, doesn’t mean that they are to others, especially those on fixed income, retirement, etc.