The proposed budget includes holding the property tax rate at $0.405 per $100 valuation. The proposed budget and tax rate are on the agenda for council consideration as well, according to a press release from the town.
The council accepted the submission of a no-new-revenue tax rate of $0.385619 and a voter-approval tax rate of $0.406682 for fiscal year 2022-23 at the Aug. 8 meeting.
The no-new-revenue tax rate gives residents the opportunity to evaluate the relationship between taxes for the current fiscal year and the upcoming fiscal year, according to the release. This tax rate produces the same amount of revenue when applied to the same properties in both fiscal years, according to meeting documents.
The proposed budget is available to view here.
