Who calculates the Permissive Tax Levy?

The Permissive Tax Levy is calculated by the Tax Collector and the Chief Financial Officer (CFO) in order to create estimated tax bills for residents. This calculation is critical because it allows municipalities to provide taxpayers with preliminary tax assessments based on the expected budget and revenue needs for the upcoming fiscal year.

The collaboration between the Tax Collector and the CFO ensures that the estimated bills reflect both the potential budgetary requirements and are informed by relevant tax regulations. It is a proactive approach taken by local governments to aid taxpayers in planning their finances before the final tax rates are established and bills are issued.

Understanding this process highlights the importance of roles within local government and illustrates how taxes are managed at the municipal level. The other options do not accurately represent the responsibility structure for calculating the Permissive Tax Levy within a municipality, as they either exclude key roles or incorrectly attribute this function to other entities.