Last Chance: Tax Time

This Wednesday, Aug. 1, is Falmouth residents' last chance to pay their first quarter fiscal year 2013 real estate tax. This is a hard deadline; unlike April's federal tax day, Falmouth's deadline refers to the date by which your payment must be in the town's possession, not when it must be postmarked.

Tax bills can be paid via mail, at the Town Collector's office (at ), or over the Internet, here: http://www.falmouthmass.us/deppage.php?number=470.

Falmouth switched to a quarterly tax billing structure last year, from the previous twice-yearly schedule. According to a document on the town's Web site, the move was one of both convenience and necessity.

The document reads, “Falmouth, like most cities and towns in Massachusetts, relies heavily on revenues generated from tax bills to fund its account receivable and payroll warrants. [Prior to the change], the Town operate[d] for almost 4 months (July 1-Nov. 1) before collecting its most significant revenue source.”

That situation had been in place fro some time. The switch to quarterly billing was prompted by the continuing economic difficulties of Falmouth, Massachusetts, and the country as a whole. It represents an attempt to bring more precision to the town's budgeting process.

According to the document, “Recent and continuing reduction in state aid causes the town to rely more heavily on local tax generated revenues to pay its bills. The main purpose of this change is to avoid borrowing costs associated with potential cash shortfalls. The quarterly scenario...also allow[s] the Treasurer to take advantage of higher yields offered on longer term CDS and investment vehicles.”

Second quarter tax bills will be due on Nov. 1. Those with questions concerning real estate taxes can call the Assessor's office, at (508) 495-7380.