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Williamstown Property Tax Nudging Up by 1.2 Percent
By Stephen Dravis, iBerkshires Staff
01:02AM / Monday, April 09, 2018
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WILLIAMSTOWN, Mass. — The town's proposed fiscal 2019 budget would translate into an increase of 1.2 percent on the property tax rate, but most of that rise is attributable to the phased-in increase to pay the bond on the new Mount Greylock Regional School.
 
On Wednesday, Town Manager Jason Hoch gave the Finance Committee an overview of the latest numbers for FY19, projecting an increase of 20.81 cents on the 2018 tax rate of $17.94 per $1,000 of valuation.
 
The property tax on a $200,000 home — without either the Fire District or Community Preservation Act taxes factored in — would be $3,629.62 at the new tax rate of $18.15.
 
Of the proposed 20.81-cent increase on the tax rate, the capital bond for the Mount Greylock building project accounts for 13.43 cents, according to figures presented by Hoch.
 
The regional school district's assessment to the town for capital costs for the new middle/high school is $1.34 million, up from $1.21 million a year ago.
 
In 2016, the Mount Greylock Regional School Committee decided to phase the capital payments in over a couple of years rather than hit Lanesborough and Williamstown with the full impact of the building bond in the first year.
 
"I knew we had that 13 cents coming," Hoch said on Wednesday regarding the FY19 increase in the district's capital assessment. "We're doing all the rest [of the budget] for 7 cents on the tax rate. We expected, based on previous votes, the 13 cents."
 
Looked at as a percentage, the tax rate increase not related to the school building project, 7.38 cents, represents an increase of .4 percent on the FY19 budget. The remaining .75 percent of the increase is because of the Mount Greylock capital assessment.
 
Hoch also Wednesday informed the Finance Committee that he plans to apply $400,000 from the town's free cash account to the budget, up from the $300,000 he used in the past. He indicated that $400,000 is about as much as he would like to use and still would leave the town in a good cash position.
 
"Generally, looking at where we've been so far, my preference would be between $300,000 and $400,000," Hoch said in a meeting telecast on the town's community access station, WilliNet. "If you become too reliant on it, you cut too much into free cash. I feel comfortable with $400,000.
 
"Last year at this time, the budget we put forward, we were expecting a $261,000 carry forward balance of free cash. I'm expecting a $566,000 carry over now.
 
"The $300,000 to $400,000 range for free cash is repeatable. You start dipping higher than that, and it feels good for a year, but the reason you build it up is for a bad year."
 
Hoch also told the committee that the town has $1.3 million in its stabilization account, which is earmarked for town capital projects.
 
As of now, Hoch does not plan to use the stabilization fund to finance the new police station on Simonds Road (Route 7).
 
On Wednesday, he gave the Fin Comm a brief overview of capital plan for the station, which he plans to explain in more depth at Monday's Select Board meeting.
 
He told the Fin Comm that, in round numbers, the town currently spends about $1.66 million on capital debt, and he plans to fund the remodeling and expansion of the former Turner House without adding to that figure.
 
In 2025, when the bond for Williamstown Elementary School comes off the books, Hoch's intention is to shift money used to pay that note over to the police station. The Mount Greylock bond, at some point, will begin to taper off over the life of the 30-year bond.
 
In the meantime, Hoch has identified other savings in the budget — like projected electrical savings from the solar project near the town's transfer station and revenue from "old tax sales of properties" that will help the town absorb the payment for the police station project with no impact on the tax rate.
 
In other business on Wednesday, the Finance Committee reviewed the budget for the Hoosac Water Quality District and heard a presentation from Sand Springs Pool; the non-profit that operates the historic pool on the north end of town is asking the town for $19,000 in FY19 to support the operation.
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