Here is the good news: The tax rate in Barrington is dropping from $20.30 per $1,000 of assessed property value to $14.75.
Officials announced the new rate toward the end of the Financial Town …
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Here is the good news: The tax rate in Barrington is dropping from $20.30 per $1,000 of assessed property value to $14.75.
Officials announced the new rate toward the end of the Financial Town Meeting on Wednesday night, May 22.
But the lower tax rate is only half the story.
Earlier this year, officials ordered a town-wide revaluation. A firm checked each and every property in Barrington and updated the assessments to reflect current market values.
On average, the new assessments increased over the previous year. In some cases, home assessments rose more than 50 percent.
According to Northeast Revaluation Group, the average increase in assessment was 45 percent. So, if a property owner’s revaluation went up more than 45 percent, they will likely be paying a greater share of the tax levy, and if their revaluation went up less than 45 percent, they will pay a smaller share.