Prop. 2-1/2 Underride

At a recent Selectman’s meeting Selectman Ian Johnson brought up the subject of an Underride.  I think most of us are familiar with a Prop. 2 ½ Override. But what is an Underride?  An Underride is when you have excess levy capacity and you remove that capacity.  

Put another way; having Excess Levy Capacity is like having a Home Equity Loan available to you. It’s always there and available for you to use. When you use your Home Equity Loan, you have a new bill to pay each month. When the Town uses the Excess Levy Capacity, the Tax Payers have a higher tax bill to pay.

Once the Levy is lowered it can grow again with home improvements, rising assessments, and new development. And as the economy recovers and commercial rents rise the building assessments will rise and tax collections will increase.

An Underride is a fiscally responsible thing to do and I support it. I don’t know about you, but I don’t need another bill, and I don’t need my tax bill going any higher. Ian Johnson is looking out for the Tax Payers and I support him and the idea for an Underride.