|Fiscal Year||Rate Per Thousand|
|FY2016 Tax Rate||$16.55 per thousand|
|FY2015 Tax Rate||$16.73 per thousand|
|FY2014 Tax Rate||$15.77 per thousand|
|FY2013 Tax Rate||$15.53 per thousand|
|FY2012 Tax Rate||$14.88 per thousand|
|FY2011 Tax Rate||$14.62 per thousand|
|FY2010 Tax Rate||$13.79 per thousand|
|FY2009 Tax Rate||$12.97 per thousand|
|FY2008 Tax Rate||$11.64 per thousand|
|FY2007 Tax Rate||$11.32 per thousand|
|FY2006 Tax Rate||$12.12 per thousand|
How Is the Tax Rate Determined?
Three factors determine the property tax rate:
- The property tax levy.
- The total assessed value of the community.
Property Tax Levy
The tax levy is the amount of money to be raised by the property tax. Each year the amount to be raised is determined in accordance with the provisions of proposition 2 1/2. The levy limit in any give year is computed by taking the total maximum allowable levy of the previous year increased by 2 1/2 percent, plus allowances for new growth, overrides and debt exclusions. New growth is based on the increased value of new developments; additions, renovations and other growth in the tax base that is not the result of changes in market conditions. New growth is also the tax on any property that is taxable for the first time, such as a formerly exempt property becoming taxable.
An exclusion is that amount of money needed to pay the principal and interest on debt incurred for special projects approved by referendum for exclusion from Proposition 2 1/2 limits.
Determining the Tax Rate
The tax rate is calculated by dividing the total amount to be raised by the total assessed value of all taxable property. Tax Rate = Tax Levy / Total Assessed Value
This rate is expressed in terms of dollars per 1,000. For example if a home is assessed for $1,000,000 and the tax rate is $10.00, the tax bill (before exemptions) would be computed as follows: $1,000,000 x $10.00/1,000 = $10,000.00
Dunstable has historically adopted a single rate, rather than classified tax rate, which shifts the total tax levy between major property classes (residential and commercial).
The Board of Selectmen must vote annually following a tax classification hearing whether to adopt multiple rates and the amount of the tax levy shift.
The amount to be raised through taxation is determined by Town Meeting during budget deliberations.