Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
First Selectwoman Emery Giugones explains mill-rate changes and $1.8 million vehicle-tax shortfall
Summary
First Selectwoman Emery Giugones said a recent property reassessment and state changes to motor-vehicle valuation reduced vehicle tax revenue by about $1.8 million, forcing the town to raise its proposed mill rate modestly and consider a 0% budget while trimming capital and seeking grant funding.
First Selectwoman Emery Giugones said Friday from her office that changes to state motor-vehicle tax calculations and a recent property revaluation have forced the town to adjust its proposed mill rate and budget.
Giugones said the town's motor-vehicle tax revenue fell after state directives and reassessment effects, leaving the town with a roughly $1.8 million decline in vehicle tax receipts. "Basically, we lost $1,800,000 in revenue from our motor vehicles," she said, and added that the shortfall is one reason the town's draft mill rate moved to 28.29 from an earlier starting point of 27.12 in her calculations.
Why it matters: the state is changing how it values vehicles for local taxation, moving away from Blue Book values toward MSRP-based values and taxing vehicles at a declining percentage of MSRP (noted by Giugones as 90%, 85%…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
