Tax levy is the total amount the taxpayers pay to the town. That is very consistent in that it doesn't matter what valuations are, they change the tax rate to assure that the same levy is raised the next year. During the year if increased spending is approved then the levy must be raised with the tax rate adjusted accordingly. If a new valuation is done in a given year and valuations are down, then the tax rate is increased so that the levy is consistent. If a new valuation is done and valuations go up, then the tax rate is adjusted down, again to keep the levy consistent.
Taxes go up because politicians spend more, that's it. I'm pretty sure this bill caps the levy, which in my opinion can be a good thing, especially at 0 %, which forces politicians to ask the voters for more money, something they aren't required to do now.
It's a myth that rising property values cause taxes to increase, just like it's a myth that falling property values cause taxes to decrease. Politicians spending your money make taxes go up.
Freezing the tax rate can't work, freezing the levy works great.
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