Government
Council Approves 2024 Tax Rates & Bills Will Go Down for Watertown Homeowners
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Charlie BreitroseA lot of money was raised and spent on the 2015 Watertown Election. Like Haley’s Comet or a cycle in baseball, a rarely seen event took place at the Watertown City Council meeting on Tuesday night: property taxes went down. Watertown homeowners will see a drop of around $1,000 in their annual taxes this year. The drop was primarily due to the Legislature passing special Home Rule legislation to allow Watertown to close a loophole in the law governing how much of the tax burden can be shifted from residential properties to commercial, industrial and personal (CIP) properties. The tax rate on residential properties dropped from $13.58 per $1,000 in assessed value in Fiscal Year 2023 to $11.70 in Fiscal Year 2024, said City Assessor Earl Smith.