Tuesday, December 1, 2009

In the News - split tax vs. single tax rate

"Changing to a split rate does not in and of itself raise a penny of additional tax revenue to the town," council Vice Chairman Stephen Whalen said. "Rather it just shifts the overall tax burden, such that businesses pay more of the overall tax levy."
He compared Franklin to Milford and Bellingham, towns with split tax rates, and said that Milford businesses are taxed 73 percent more than residents, and Bellingham's commercial properties are taxed 46 percent more than its residential properties.
"A single tax is more business friendly because it results in a lower property tax rate paid by businesses in towns with a single rate," he said.

Franklin to vote on split vs. single tax rate

from The Milford Daily News Homepage RSS

For my analysis on the tax rate you can view my slidecast here

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