June 19, 2019
On April 3, 2018 the voters of the City of Attleboro approved a debt exclusion of Proposition 2 ½ to temporarily raise taxes to pay all related costs to design, construct, and equip and furnish a new high school.
In an effort to help taxpayers plan and budget, the first and second quarter preliminary tax bills have been adjusted to include an estimated amount of the expense related to the high school for fiscal year 2020. Due to the timing of setting the annual property tax rate (late November or early December), the exact impact of the debt exclusion cannot be calculated until the fiscal year 2020 tax rate is set.
This adjustment allows the impact of the debt exclusion to be spread over the four quarters rather than placing it all on the last two quarter bills.
Please be advised there is no formal method by which a bank or mortgage company is informed of anticipated property tax increases for escrow purposes. Property owners may want to contact their mortgage lender regarding property tax escrow amounts.