Date: Fri 09-May-1997

Publication: Bee

Author: STEVEB

Quick Words:

tax-rate-council

Full Text:

Council Sets Tax Rate

The Legislative Council Wednesday officially set the tax rate for the 1997-98

fiscal year at 25.9 mills, a .9 of a mill increase.

That means a house valued at $250,000, which would be assessed at $175,000,

will have to pay $4,532 in local property taxes next year, an increase of

$158. The town recently approved a $52.6 million budget.

The final mill rate figure was determined earlier this week by Finance

Director Ben Spragg.

Originally, the town had estimated a 26.2 mill rate, a number that was based

on Governor John Rowland's proposed budget and the assessor's grand list.

However, Mr Spragg said the town received some good news last month when the

state appropriations board and the state finance committee opted to give the

town an additional $321,000 in state grants. The town also received an

additional $14,000 in income on the grand list from personal property tax from

Dade International and Sorvall Products, two companies that recently moved

into town.

The Board of Assessment Appeals recently made adjustments in several property

assessments, reducing the grand list $753,000. However, the net income from

all other areas gave the town an additional $82,000 in tax revenue because of

the adjusted grand list.

Council Sets

Tax Rate