2011 LD 1 Average Personal Income Growth Factor

September 20, 2010

With the passage of “LD 1” in 2005, towns and counties are required to calculate a property tax levy limit each year based on local property growth and statewide average personal income growth. Each town and county is responsible for calculating its property growth. The State Planning Office (SPO) is responsible for calculating income growth. For the 2010 property tax year (the 2011 budget year for most towns), SPO has determined that figure to be 1.66%.

See the PDF release for the Personal Income and Consumer Price Index figures. More information is available at the LD 1 website.

This calculation reflects the methodology described in LD 1, which is now Public Law 2005, Chapter 2: “‘Average real personal income growth’ means the average for the prior 10 calendar years, ending with the most recent calendar year for which data is available, of the percent change in personal income in this State, as estimated by the United States Department of Commerce, Bureau of Economic Analysis, less the percent change in the Consumer Price Index for the calendar year.” 2009 is currently the most recent year for which data is available.

With the passage of “LD 1” in 2005, towns and counties are required to calculate a property tax levy limit each year based on local property growth and statewide average personal income growth. Each town and county is responsible for calculating its property growth. The State Planning Office (SPO) is responsible for calculating income growth. For the 2010 property tax year (the 2011 budget year for most towns), SPO has determined that figure to be 1.66%. Read the full release for more information and calculations.

Supporting documents

2011 Average Personal Income Growth (PDF)