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Commissioner outlines drop in personal property tax relief; committee forwards recommended rate
Summary
Staff told the Finance Committee that the state's Personal Property Tax Relief allocation to Winchester is fixed at $2.6 million and that a growth in vehicle counts on local rolls will shrink the relief percentage from last year’s 36% to an estimated 22%; the committee forwarded the recommendation to council.
The Finance Committee heard from the Commissioner of the Revenue about the Personal Property Tax Relief Act distribution and forwarded the recommended relief rate to the City Council.
The commissioner explained that Winchester receives a fixed state allocation for personal property tax relief — $2,600,000 — that does not scale with increases in vehicle counts or vehicle values on the local tax rolls.…
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