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October 20th Newsletter

Kathryn Russell

Oct 20, 2023

It's About Taxes!

Hello!


As I have knocked on doors throughout Deep River asking, “What’s On Your Mind?” the most common response is “My taxes are too high, and I really don’t get much for them.”


Two recent social media posts by the Democratic Town Committee touted the Democratic-controlled Town management as having kept the mill rate increase low. Is it as low as it could have been, or should be? Both Chester’s and Essex’s actual mill rates are lower than ours.


What is the Mill Rate and Why Is It Important?

The mill rate is the amount of tax payable per dollar of the assessed value of a property. It determines how much property tax you pay for every dollar your property is worth.A higher mill rate translates to higher property taxes. 


Understanding the Assessment Impact

Why are tax bills so much larger for many residents if the mill rate is not rising particularly quickly? The answer is due to possible changes in the assessed value of their property, changes which are driven by demographics and the real estate market.


What Are We Getting for Our Taxes?

Residents question what services they're getting for these increasing property tax rates. We are proud of the high-quality, high-cost educational system we provide, which accounts for 69% of this year’s Town budget.  But let’s not forget that property taxes aren’t the only taxes Town residents are paying. Many pay a Sewer Tax, Car Tax, Personal Property Tax for businesses, and may be facing a soon-to-be proposed tax for use of the transfer station.


How Can We Maintain or Lower the Mill Rate in Deep River?

Several approaches can be taken to bend the curve or lower our mill rate including:

  • Efficient Spending, including close examination and timely execution of contracts

  • Strategic, focused Economic Development, expanding the business tax base to relieve the pressure on the home property owner (82% of Deep River’s income is property tax-based)

  • Grant Application and Partnerships strategically aligned to support the Town’s Plan of Conservation and Development and ease the budget bottom line

  • Consistent Budget Reviews incorporating zero-based budgeting where possible to identify and eliminate wasteful spending.

  • Enhanced communication with taxpayers and engagement of community members in budgetary decisions.



Deep River residents deserve better financial management, clarity on expenditures, and strategies to bring relief from escalating tax rates. As your First Selectwoman, I will work closely with our Board of Finance, the Board of Education and Region 4 leadership, and with a revitalized Economic Development Commission to grow revenues and control expenditures.


Thank you for your ongoing support of my campaign.

Warm Regards,

 

Kathryn Russell


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