We would like to set the record straight concerning the fact that Regency at Prospect is a major contributor (not taker) to the town of Prospect.
The Regency community contributes $900,000 in taxes and over $6,000,000 to the town economy. Yet, we receive minimal town services — primarily police, fire and emergency services. Regency is a self sufficient community. In view of this, instead of receiving some sort of tax relief, we are overburdened with assessment increases while the rest of the town is decreased. Where’s the fairness?
The mayor states he has no control over assessments even though the assessor’s office reports directly to him. How about the exemptions and tax abatements granted to businesses because they contribute to the town economy? How many businesses contribute $900,000 in taxes and $6,000,000 to the town economy?
In fact, Regency as an entity is by far the number one contributor to the Grand List with approximately $33,000,000. Where’s the fairness?
In addition, why is the average decrease in assessments for the Town Council (13 percent) double the decrease for the town as a whole (7 percent) with one member receiving a whopping 28 percent ($140,000) decrease? Where’s the fairness?
With the new mill rate going up 9.4 percent and our average assessments going up 7 percent, our new taxes will be going up 16 percent despite receiving minimal services. Where’s the fairness?