Scituate homeowners may be receiving a slight reduction in property taxes, even after approving an operational override this year.
With the town facing financial distress, Scituate residents voted to support a $2.2 million dollar proposition 2 1/2 override in May. But now the town has about $300,000 in increased revenue receipts and selectmen want to give about $150,000 of that back in property tax reductions, through an amended special town meeting warrant article.
Selectman Tony Vegnani commented on the issue and said, “We have a rare situation where we could not tax the full amount. We could tax it, for say, 2.4% and take $100,000 of that extra money and reduce the tax rate by that. For every $100,000, it would be about a $10.00 savings, for an average $500,000 home.”
Selectman Joe Norton also endorsed the tax break.
“I guess if it’s not going to make much difference in the stabilization fund and not make much, but some difference to the homeowner, I would agree with Tony that we return that amount, small as it might be, to the homeowner,” Norton said.
The balance of the money would be placed into the town’s stabilization fund.