2006 - Town of Longmeadow

BOARD OF ASSESSORS
To the Residents of the Town of Longmeadow and the Select Board:
Taxes, Levies, Value
Total taxable valuation of all real and personal property for fiscal year 2007 is $2,110,540,388. This is essentially
the same as fiscal 2006’s value of $2,110,961,471. The analysis of sales in 2005 (valuation date of 1/1/2006 for
fiscal 2007) resulted in most assessments remaining the same with a few instances of values decreasing (Old Style
and 1 and 2 bedroom homes). Due to sales of about 6% of the condominiums, assessments for this class of property
increased in order to meet state guidelines for “full and fair cash value”.
The tax rate for fiscal 2007 of $15.53 is an increase of $.27 (1.77%) from a fiscal 2006 rate of $15.26 per thousand
dollars of value.
Value of Taxable Real and Personal Property (All figures are for fiscal 2007)
Personal Property (Furniture, Fixtures, Equipment, Etc.)
Real Property (Land & Buildings)
$24,969,388
Increase/
Decrease
+.00487%
Class 1 - Residential (Single Family, Condo, Land, Etc.) $2,026,588,600 -.01684%
Class 3 - Commercial (Office Building, Shopping Centers, Etc.) $56,340,200 +.32552%
Class 4 - Industrial (Land & Buildings of Utility Companies) $2,301,200 -8.6278%
Total Taxable Valuation $2,110,540,388 -.01995%
Non-Taxable Real Property (Government, Schools, Religious, Etc.) $137,567,400 +1.830%
Tax Amount to Be Raised
(Property owners agreed to spend this at town meeting.)
Total Appropriation at Town Meeting $48,733,696.50
(Plus Other Amounts to be Raised)
Overlay Deficits of Prior Years $19,447.16
Total of Cherry Sheet Offsets $752,616.00
Community Preservation Act $237,000.00
State & County Cherry Sheet Charges $93,508.00
Allowance for Abatement & Exemption (Overlay) $121,100.70
Total Amount to Be Raised $49,957,368.36
Estimated Receipts and Available Funds
(Where the money comes from to pay for services voted at town meeting.
Cherry Sheet Estimated Receipts $6,526,728.00
Estimated Receipts – Local $6,668,379.00
Community Preservation Act Funds $237,000.00
Free Cash (Also known as Available Funds) $1,019,743.50
Other Available Funds $2,299,729.00
“Other” – Debt Premium Amortization $429,096.63
Total Estimated Receipts & Other Revenue Sources (34.39%) $17,180,676.13
Total Real & Personal Property Tax Levy (65.61%) $32,776,692.23
Total Receipts from All Sources i.e. GRAND TOTAL $49,957,368.36
Tax Rate: In Massachusetts the tax rate is expressed in dollars per thousand. The total tax levy to be raised from
real and personal property (i.e. income of $32,776,692.23) divided by the total taxable real and personal property
value ($2,110,540,388) produces a decimal equivalent tax rate that must be multiplied by 1,000 to convert it into the
proper format. The tax rate and ultimately the amount of tax paid, is directly related to the amount of income that
can be raised from property (tax levy) approved to be spent by voters at the annual Town meeting and any special
Town meetings.
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