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The Cost
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The chart below illustrates the cost of the override for each year until 2010.
It does not include any other overrides that may occur or any revaluations that will take place.
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The Cost of The Override
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Average Home Value
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Average Property Tax
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Year
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392,000
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$3552.00
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Current |
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With the override
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$3705.00
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Current |
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392,000
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$3798.00
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2006 |
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392,000
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$3893.00
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2007 |
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392,000
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$3990.00
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2008 |
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392,000
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$4090.00
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2009 |
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392,000
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$4192.00
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2010 |
| We have already seen our taxes go up this year due to the revaluation and the usual 2 1/2 increase. If the Override passes it will mean an additional increase of $153.00 on average. By the year 2010 the average homeowner will be paying over $640.00 more in property taxes than they are now.
*These increases are assuming no increase in valuation or additional overrides
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Increasing the tax burden on Wakefield taxpayers should always be the last resort.

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