Yarmouth’s tax rate recap process featured in DLS webinar

The Division of Local Services in August hosted a free webinar in partnership with the town of Yarmouth highlighting how teamwork among local officials leads to great results in the tax-rate setting process.

The DLS reports that Yarmouth is routinely among the first communities to submit its tax rate recapitulation sheet each year. The webinar explains how the town’s collaborative financial management team approach has created an automated tax recap process using tools available to all communities.

The tax recapitulation sheet, necessary for setting a town’s tax rate, is submitted annually to the Department of Revenue to indicate that the town has a balanced budget within the limits of Proposition 2½. The Department of Revenue must then approve the annual tax levy growth and the recap sheet, and set the tax rate, before a town can issue tax bills.

The 43-minute webinar can be found in the DLS’s Municipal Finance Training & Resource Center and its YouTube channel.