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West Point staff report 39.82% reimbursement rate under Personal Property Tax Relief Act for 2026
Summary
Town staff told the council the Personal Property Tax Relief Act reimbursement for tax year 2026 was calculated at 39.82 percent using the state allocation and current assessed values; Council will consider that rate as part of upcoming agenda action.
Mr. Hudgins, a town staff member, told the council the annual reimbursement rate under the Personal Property Tax Relief Act for tax year 2026 had been calculated at 39.82 percent based on the state's allocation and current assessed values.
"The rate for tax year 2026 had been calculated at 39.82 percent using the state allocation and current assessed values," Mr. Hudgins said. He presented the calculation as part of several agenda items staff reviewed during the work session and said the rate will be presented for Council consideration on the formal agenda.
Council did not act on the rate at the work session; staff indicated the figure would be included with the consent and budget‑related materials for Council consideration at the next meeting.
