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Proposal to cap town homestead assessment sparks sharp council debate; no consensus to advance
Summary
Councilman McCormick proposed a local change to the homestead assessment cap (down to 0% in some examples) to limit automatic property tax increases; councilors raised fiscal and service‑level concerns and declined to move the item forward for further work at this time.
Councilman McCormick proposed a policy change on Oct. 21 that would lower or freeze the town’s homestead assessment cap — the mechanism that phases in assessed value increases — and argued the change would provide tax predictability and immediate relief to long‑time homeowners. He proposed that any surplus fund balances be returned to residents or used to reduce enterprise fees.
Opponents…
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