June 30, 2010
Greetings:
A major change in the real estate billing procedure was adopted at the Fall Special Town meeting and will become effective for FY2011. Instead of tax bills being paid in two installments they will now be paid in four payments.
An estimated bill for the first two quarters will be mailed by July 1, 2010. The first payment will be due August 1, 2010 and the second payment by November 1, 2010. Each estimated bill will be equal to ¼ of the total FY2010 tax bill. Credits to the FY2010 tax bill such as exemptions or abatements will be subtracted from the FY2011 bill prior to calculating the amount due. For instance assume the total FY2010 tax bill was $2000. The payment due August 1 will be $500 and the one due November 1, 2010 will also be $500. If there was a $500 exemption to the FY2010 bill, resulting in a net tax of $1500, the quarterly payments due would only be $375.
On or about December 31, 2010 the actual tax bill will be issued. The amount paid on August 1 and November 1 will be subtracted from the total FY2011 tax and the balance due will then be divided into two payments due February 1, 2011 and May 1, 2011. Any exemptions will be subtracted from the tax when establishing the amount due.
Abatement applications can only be accepted after the issuance of the December 31, 2010 tax bills. Also exemption applications can be submitted up to April 1, 2011.
Very truly yours,
Fairhaven Board of Assessors
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