Robbing Peter to Pay Paul
By Editor at April 15, 2024 | 8:15 am | Print
Although it seems difficult to understand, the Mayor has proposed a rise in our mill rate, but the amount of taxes most of us will pay will go down.
The reason is a state mandate has lowered the mill rate on motor vehicles. Anyone who does not own property other than their car will automatically pay less. Those that own a home and two cars will see a drop in taxes as well.
The person who owns one house and one car will see an increase as the lower rate on one car will not equal the rise on their home.
Although the lowering of the mill rate on cars, might sound like a good thing for everybody, it tends to raise the mill rate for everything else.
What is even scarier is the fact that the State could decide not to give the difference in money to make up for the drop in rate for the cars.
This is all a robbing Peter to pay Paul scenario.
The best thing is to just wait and see what happens when it is all said and done. Most likely, the difference between how much taxes have gone up or gone down will be very minimal.
