Thursday, November 11, 2010

Property tax alternative

“We’ll be talking to different entities to gain support for this concept," he said. “We haven’t identified a champion yet. There’s a lot of new ground being plowed here."
The idea, Sinnot said, is to take some of the tax burden off property owners, particularly older residents who purchased their homes when values and taxes were lower, and shift it onto residents making more money. The average value of a single-family home in Concord is $835,697, with a tax bill of $10,128.
Sinnot said Pennsylvania and Maryland are among the states that allow local income taxes.
“We’re serious about dealing with particularly high property taxes and those earning a lot would have to pay a little more," he said. “House-rich people would benefit, older folks would benefit, and high earners would pick up the slack a little bit."
Read the full article in the Boston Globe West print edition or online

Franklin, MA

No comments:

Post a Comment