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Got a question? Try Ask the MMA How many communities bill for property taxes on a quarterly basis?
Q: How many communities bill for property taxes on a quarterly basis?
A: By fiscal 1999, the number of communities that had adopted the local option for quarterly tax billing had grown to 187, according to the Division of Local Services. In fiscal ’99, the quarterly communities represented 53 percent of the total number of communities, but 73 percent of the total statewide municipal levy; the semi-annual communities (47 percent) represented just 27 percent of the total levy. The quarterly billing local option became effective on July 1, 1990. Watertown was the first Massachusetts municipality to issue a quarterly property tax bill, followed closely by North Reading and Manchester-by-the-Sea. The option was designed to increase interest earnings and reduce short-term borrowing costs. Indeed, according to the Division of Local Services, revenue anticipation borrowing among communities using quarterly tax bills decreased dramatically in the first year quarterly bills were implemented.
Got a question? Try Ask the MMA How many communities bill for property taxes on a quarterly basis?
How many communities bill for property taxes on a quarterly basis?
Q: How many communities bill for property taxes on a quarterly basis?
A: By fiscal 1999, the number of communities that had adopted the local option for quarterly tax billing had grown to 187, according to the Division of Local Services. In fiscal ’99, the quarterly communities represented 53 percent of the total number of communities, but 73 percent of the total statewide municipal levy; the semi-annual communities (47 percent) represented just 27 percent of the total levy. The quarterly billing local option became effective on July 1, 1990. Watertown was the first Massachusetts municipality to issue a quarterly property tax bill, followed closely by North Reading and Manchester-by-the-Sea. The option was designed to increase interest earnings and reduce short-term borrowing costs. Indeed, according to the Division of Local Services, revenue anticipation borrowing among communities using quarterly tax bills decreased dramatically in the first year quarterly bills were implemented.
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