Burlington’s overall tax liability favorable compared to other Northeastern states

first_imgA two-income household with an adjusted gross income (AGI) of $155,750 (predominantly consisting of wages) with 2 children residing in a Burlington home with an appraised value of $410,000 will pay approximately $ 51,918 in total taxes.  This is well below Bristol, CT and Albany, NY, but more than the same household in Manchester, NH, Medford, MA and Warwick, RI. A two-income household with an AGI of $68,100 (predominantly consisting of wages) with 2 children residing in a Burlington home with an appraised value of $240,000 will pay approximately $18,309 in taxes.  This is slightly less than the same household in Albany, NY and marginally more than the same household in Manchester, NH. A recently retired couple with an AGI of $54,000 (predominantly consisting of capital gains and dividends) residing in a Burlington home with an appraised value of $490,000 will pay approximately $12,100 in taxes. This is comparable to Warwick, RI and less than Bristol, CT and Albany, NY. A small business owner with an AGI of $156,000 ($120,000 of which is from self-employment income) residing in a Burlington home with an appraised value of $410,000 will pay approximately $56,051 in taxes. This is comparable to Portland, ME, significantly less than Albany, NY and Bristol, CT and more than Manchester, NH, Medford, MA and Warwick, RI ‘We are happy to report that with regard to tax liability, Burlington hovers ‘in the middle’of the pack in all cases,’says John Davis, Managing Partner of Davis & Hodgdon Associates CPAs.  ‘Albany, NY and Bristol, CT consistently have higher tax liability while Manchester, NH and Medford, MA generally have lower liability. These findings may be particularly relevant to those who theoretically can easily relocate and choose where they live, as well as to comfort those Burlington residents who had assumed otherwise. It certainly bodes well for our fair lakeside city.’  For more details including expanded information on this study as well as graphic illustrations of the results, please visit http://bit.ly/NRlMmB(link is external) or www.dh-cpa.com(link is external), and select ‘News and Information’, ‘Media Release: Tax Insights Calculator’.Source: D-H. 8.27.2012 If the lakeside city’s natural geographic beauty and impressive cultural scene weren’t enough, there may be yet another reason to love Burlington.  Davis & Hodgdon Associates, CPAS ‘PLC recently compiled data regarding the overall tax liabilities of Burlington residents.  This city’s residents may actually have less tax liability than previously assumed by many ‘at least in comparison to other northeastern cities. Using the American Institute of Certified Public Accountants (AICPA)’s new Total Tax Insight Calculator tool, Davis & Hodgdon Associates CPAs performed an analysis of how much Burlington residents pay in taxes on items such as groceries, gasoline, sales and use, and utilities to name a few, in comparison to similar communities in neighboring Northeastern states. The calculation results will be welcome news to Burlington residents as well as those individuals considering relocation to the lakeside city. Comparable community data used in this study includes: Portland, MaineManchester, New HampshireMedford, MassachusettsWarwick, Rhode IslandBristol, ConnecticutAlbany, New York Key findings included:last_img read more

Civic center construction hits snags

first_imgShown is the site of the future Port Isabel events center, where construction has been delayed. (Staff photo by Ray Quiroga)By FRANCISCO E. JIMENEZSpecial to the PRESSReports have surfaced regarding problems with the construction of the new Port Isabel events center.Those reports were confirmed on Thursday when City Manager Edward P. Meza said that the construction is facing several utility issues, but he also said that those issues would not delay construction or cost the taxpayers any more money.“There have been some unforeseen items that have delayed the project,” said Meza. “According to our contractors it’s still on schedule. We had utilities that were going through the property on one side that delayed it. We had trees that we had to move… things like that. Hopefully after all that they are going to lay the foundation at the end of this month. It should be after that that we will begin building the walls and the roof.”Colair Inc. began construction on the project in October 2012. It was also at that time that fiber optic wires from Time Warner and ADP surrounding establishments were discovered as digging had commenced on the property.Mayor Joe Vega expressed concern over the project, saying that many people have approached him to ask about the construction’s progress.“I have been concerned,” Vega said, adding that he requested for the contractor to update them on the delay. “People have asked my why the event center has been going at a slow pace and that it looks like nothing is really moving. That’s why I brought them in to see where we were at with the schedule.”Vega then cited the same “unforeseen issues” cited by the city manager when addressing the need to reschedule. “I know they had to redo the schedule again because of some unforeseen situations that came up,” Vega said.Meza also dismissed initial allegations that the construction company had dug pillars too deep, ceasing construction until the problem was resolved. “Everything has been based on the requirements from the state with the building and the soil type that we have here,” Meza said. “They have dug at the correct depth that they were required to do.”Attempts to reach Ruben Sanchez, the contractor with Colair Inc., for comment were not successful as of presstime. Share RelatedPort Isabel sued in contractor disputeBy ESTEVAN MEDRANO Port Isabel-South Padre Press [email protected] January 29, 2015 Colair Inc., a general contractor based in Mission, is suing the City of Port Isabel over disagreements regarding the numerous problems resulting from the delayed construction of the PI Cultural & Event Center. However, according to City Attorney Robert Collins,…January 30, 2015In “News”Event Center director resignsBy ESTEVAN MEDRANO Port Isabel-South Padre Press [email protected] Mari Galvan, Port Isabel Event and Cultural Center Director since the center’s inception last year, officially resigned last week citing personal reasons. City Manager Ed Meza spoke about the major role she played in the facility’s maturation since its construction. “She contributed a…March 8, 2015In “News”YACHT CLUB AUDITForensic audit delivers scathing report of restoration project’s finances, planning   Editor’s Note: To jump to Part 2 of this story, available exclusively online, click here. By DINA ARÉVALO Port Isabel-South Padre Press [email protected] The Port Isabel City Commission heard a lengthy report about the Yacht Club project during its regular…March 30, 2018In “News”last_img read more