Bristol approves flat tax levy for 2014

bristol-vil-signThe Bristol Village Board approved the same tax levy for 2014 as it had in 2013 — $1,650,037.

That means the village will be looking to collect the same amount of money from village taxpayers. But what any individual taxpayer will pay depends on if there has been any change in their assessed value in the past year. It’s likely most have seen a change as Bristol revalued properties village wide in 2013.

The effect of the revaluation was a lower total assessed value. The total assessed value for all property in the village was $608,822,200 for 2013 taxes. It is $510,588,180 for 2014 taxes.

The average property in Bristol experienced about a 16 percent decrease in assessed value from 2013 to 2014 values, said village auditor Renee Messing at the public hearing on the budget Monday.

Collecting the same total tax levy from less total assessed value means the tax rate per $1,000 will increase from $2.7201 per $1,000 valuation in 2013 to $3.2316 per $1,000 valuation in 2014.

If your property’s assessed value decreased 16 percent too, your village portion of your 2014 tax bill will be the same as 2013. If your assessed value decreased more you should pay less to the village in 2014 despite the increased rate. If your assessed value decreased less than 16 percent or even increased you will pay more to the village in 2014 than 2013.

The 2014 levy passed by a 4 to 1 vote of the Village Board. Trustee John McCabe was the vote against the levy.

McCabe, in an email to westofthei.com, explained he voted against the levy because it maintained the same taxes though most property is now assessed for less, which he equates to a de facto tax increase; properties will pay the same tax, though they are valued for less.

The village’s new assessed value is now slightly more than it was in 2007, when it was just below $500,000,000,  according to a graph provided by the village.

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