Town Assessor: Walmart tax revenue 62% less than we thought

Watertown's head assessor, Frank Golden, has reduced his estimate of what Walmart will add to Watertown's tax revenue.  In light of state tax laws passed in 2009, and Walmart's filing status as a corporation, Golden states that the amount of revenue which Walmart will add to the town's coffers is a mere $115,000, down from the original estimate of $308,000.

The change to the assessor's estimate was prompted by reports from Oxford and other towns all over the Commonwealth that revenue from taxes on Walmart's corporate personal property will be practically zero.  While state revenues will increase due to the change in the laws, revenues to the cities and towns will be greatly diminished.

An explanation of the tax law changes can be found on the Sprawl Buster web site. Articles covering the affects this will have on other Massachusetts cities and towns can be found in the Worcester Business Journal, The Worcester Telegram, and The Berkshire Eagle

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