Bristol officials report near‑complete tax collections, warn motor‑vehicle valuation changes will reduce revenue growth

City finance staff told the joint meeting of the Bristol City Council and Board of Finance on Feb. 11 that the city has collected about 99.6% of its current levy and is tracking near or above budget in several revenue categories, even as a statewide change to vehicle valuation reduced the city’s motor‑vehicle tax base.

Diane (city finance staff) said the city’s current levy stood at $167,200,000 and “we are at 99.58% collected” for the January accounting period. She reported building‑permit fees and conveyance taxes at roughly 82% and 89% of budgeted levels, and noted motor‑vehicle supplemental receipts of $1,540,000 that slightly exceeded the supplemental budget. She also reported delinquent‑tax demand activity: 1,148 real‑estate demands totaling $3,280,000 in tax due with $140,000 in interest, and 574 personal‑property demands totaling $527,000.

Tom Denote, the city assessor, presented the signed 2024 grand list and a multipart explanation of why the city will realize only modest additional tax revenue from this year’s valuations. The grand list figures he reported include roughly $4.5 billion in real‑estate value, about $536 million in personal property, and roughly $450 million in motor‑vehicle value. He said combined net assessment increases in real estate and personal property total about $104 million, but a new state valuation method for…