10.30.2024 Fall River City Council - Special Meeting

The Fall River City Council held a special meeting on October 30, 2024, preceded by a Finance Committee meeting, to address the reestablishment of the fiscal year 2025 tax factor and tax levy. The administration recommended setting the tax factor at 1.75. During discussions, Council Dion inquired about an unusual increase in "New Growth" for personal property. Richard Gonzalez, Chairman of the Board Tax Assessor, explained that this growth was primarily due to significant infrastructure work by Fall River Gas and the electric company, including new lines and road construction, which contributed to a "lucrative year" for the city in terms of new property values. The Finance Committee unanimously voted to set the tax factor, and subsequently, the full City Council, with all members present, also unanimously approved the motion to set the tax factor at 1.75 and adopted two orders related to the tax factor and classes of real estate.

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