The new fiscal year began July 1 and, yes, our taxes are up. But the increase is $.04 less than had been announced at the Financial Town Meeting June 9.
The actual tax rate for the new year is $23.26 per $1,000 assessed value, up $.36 over last year’s $22.90 tax rate.
For someone with a house assessed at $400,000, that comes to a property tax bill of $9,304, an increase of $146 over this year. It reflects a 1.57 percent tax rate increase and marks the lowest tax increase in five years.
The reason the tax rate is not finalized at the Financial Town Meeting is because the tax assessor must certify the tax role before the start of the new fiscal year. The newer calculation was approved by the Town Council July 14.