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The original item was published from 11/19/2015 3:02:20 PM to 12/16/2015 12:05:01 AM.

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Posted on: November 19, 2015

[ARCHIVED] Time to start budgeting for an increase in your Real Estate Taxes for 2016

At the end of December, the Treasurer’s Office will be mailing out FY16 Real Estate Tax bills with payment stubs for the 3rd quarter tax due on February 1st and the 4th quarter tax due on May 2nd. The tax amount due will include the $2.9 million school override that was approved in the spring. The bills that were due in August and November of this year did not include the override amount, so the entire $2.9 million will be added to the 3rd and 4th quarter bills.

It is estimated that each quarterly tax bill will increase about $80 for every $100,000 of assessed value. For example, if your property’s assessed value is $400,000 you can expect an increase of about $320 for each quarterly bill. Please plan accordingly over the next few months so the tax increase does not catch you off guard.

Kevin Merz
Town of Ipswich

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