Warren set to reduce tax exemptions
The Warren Town Council was expected to reduce many of the tax exemptions the town extends to some residents, during a special meeting held Friday afternoon, May 31.
Exemptions are being reduced across the board not to recoup revenue that would otherwise be lost, but to adjust for the town's recent statistical revaluation. On average, the revaluation reduced the value of every property in town by about 7 percent. Since tax exemptions are based on assessments, Warren Tax Assessor Cathy Maisano said town figures needed to be adjusted given the new, lower value of the town's buildings. In addition, the state requires that exemptions be adjusted when revaluations are completed.
"It'll be the same," she said of the new exemptions and whether those who claim them will notice anything different in their bottom line. "Everyone is whole; they won't notice a difference."
The new exemptions (providing they are approved by the council at its 4 p.m. meeting) are as follows:
* The elderly: Exemption reduced from $31,638 to $28,876.
* Veterans and widows of veterans: Exemption reduced from $10,500 to $9,584.
* Gold Star Parents: Exemption reduced from $10,096 to $9,215.
* Totally disabled: Exemption reduced from $21,136 to $19,291.
* The visually impaired: Reduced from $42,205 to $38,520.