Bristol residents: Need help estimating your new tax bill?
Properties with big changes to their assessments, can expect big increases in their tax bills
Next year’s Bristol property tax bills are the result of two factors:
1. Your new assessed value;
2. The town’s new tax rate, which will be finalized next month.
Because …
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Bristol residents: Need help estimating your new tax bill?
Properties with big changes to their assessments, can expect big increases in their tax bills
Next year’s Bristol property tax bills are the result of two factors:
2. The town’s new tax rate, which will be finalized next month.
Because the assessed values of Bristol properties increased an average of 18%, most residents are probably feeling a little sticker shock, fearing their tax bills will be going up correspondingly. They won't. But for a majority of residents, they will be increasing.
Generally speaking, and assuming the town’s tax rate remains consistent with how it has been proposed, if your assessment increased 10%, your tax bill will barely change.
If your assessment increased less than 10%, your taxes will decrease.
If your assessment increased more than 10%, your taxes will be increasing too.
If your property increased by the average of 18%, your tax bill will most likely be increasing about 6.3%. The chart below shows a few scenarios.
|
If your property assessment increased … |
Then your tax bill is expected to … |
|
5% |
-5.4% |
|
10% |
+1% |
| 15% | +3.6% |
|
20% |
+8.1% |
| 25% | +12.8% |
