Homeowners in the town of Richmond are bracing for a double-digit increase in their property taxes. Town of Richmond's public hearing is Tuesday at 7 p.m. Families can also send a letter to the town clerk by 4 p.m. Tuesday.
Homeowners in the town of Richmond are bracing for a double-digit increase in their property taxes.
On Tuesday, the town will hold its second public hearing to talk about raising the taxes by 12 percent.
According to the town supervisor, the increase will generate $111,000 for the town.
Of the money generated, $100,000 will go into the Highway Equipment Reserve Fund to replace aging equipment while the rest will go to the park reserve to replace the roof at the Sandy Bottom Bath House.
A home/parcel valued at $103,000 will see an increase of roughly $34 a year in taxes.
"A majority of people in this town are on fixed incomes," said homeowner Patricia McWilliams.
Now retired along with her husband, McWilliams says a 12 percent jump in taxes is big for Richmond families - including her own.
"I'm getting a two percent Social Security raise and if they're going to raise our town taxes between 12 and 14 percent, then where am I supposed to come up with the other nine percent to pay for our town taxes?" asked McWilliams.
Families can still be eligible for the STAR rebate which is tied to the school district tax cap but if the town exceeds the state's two percent tax cap, families will be disqualified for a state rebate check.
"Last year we got like $240," said McWilliams. "So in addition to the nine percent and losing the rebate from the state, that's a big financial hit."
Town of Richmond's public hearing is Tuesday at 7 p.m. Families can also send a letter to the town clerk by 4 p.m. Tuesday.