FREQUENTLY ASKED QUESTIONS
Does my bank/mortgage company pay my Personal Property Tax Bill? No.
What is a Personal Property Tax? The Personal Property Tax is assessed on second homes, vacation homes and guesthouses. It is known in some states as a luxury tax.
How is the Personal Property Tax calculated? It is calculated at six percent of the assessed value of the house, multiplied by the tax rate.
If I sell my property, how is the allocation of taxes handled? The Tax Collector and the attorneys’ offices handle that for the buyers/sellers. Taxes are prorated from July 1st (the beginning of the fiscal year) to the closing date. The prorated taxes become part of the settlement closing costs.
What is the tax rate?
F/Y 2006: $1.85 per thousand dollars of valuation
F/Y 2007: $1.87 per thousand dollars of valuation
F/Y 2008: $1.96 per thousand dollars of valuation
F/Y 2009: $1.98 per thousand dollars of valuation
F/Y 2010: $2.03 per thousand dollars of valuation
F/Y 2011: $2.13 per thousand dollars of valuation
I never received the bill for my Real Estate/Personal Property/Motor Vehicle Excise/Boat Excise tax. Do I have to pay the late charges? Yes, it is incumbent upon the taxpayer to notify (in writing or in person) the Collector’s office of any mailing address change.
Why didn’t I get a second payment notice for my real estate and/or personal property tax bill included in the April 1st mailing? If the total annual tax is $50.00 or less, the entire amount is due and payable 30 days from the original date of issue.
What is the CPA Tax? The CPA Tax is the Community Preservation Act Tax. The money collected from this tax is turned over the Community Preservation Committee and is used for open land acquisition, historic preservation and affordable housing.
How is the CPA Tax calculated? The tax is calculated at three percent of the current fiscal year assessment, less the first $100,000 of valuation, multiplied by the tax rate. Property assessed for less than $100,000 does not pay the CPA Tax.
Since I filed for an abatement, do I have to pay my Real Estate/Personal Property/Motor Vehicle and/or Boat Excise tax? Yes, the bill needs to be paid by the due date, should the abatement not be granted prior to the due date. If an abatement is granted, a refund will be issued for the amount of the abatement.