Taxing History

Posted by on Feb 20, 2014 in Warwick In History Minutes | 0 comments

“Warwick in History” – In 1813, the average property owner in Warwick paid $3.38 per year in taxes. Larger property owner’ taxes reveal the low rate of taxation. Andrew Ackerman’s property was assessed at $3000 and he paid $4.39; James Burt’s property at $6240 paid $8.65; and Gabriel Wisner’s at $12,250 paid $18.78. A ten-acre tract of prime land cleared was valued at $150.

In 1850, the amountĀ of money to be raised by town taxes was $50,043. In 1945, it had grown only to $65,850. However, 20 years afterward, in 1965, it had mushroomed to $293,809 and by 1975 it had exploded to $954,430.

Only seventy-six years ago, in 1900, the total disbursements of the town were $11,689, whereas in fiscal 1975, disbursements amounted to $1,565,207.

In Warwick, a 116-acre farm in 1948 sold for $12,800. In 1975 it was assessed at $197,000. Only recently have real estate values kept pace with the rate of general inflation.

(The foregoing was taken from PEOPLE OF THE VALLEYS by Dr. Richard Hull.)