WILTON — Selectpersons on Thursday set the tax rate at $20.65 per $1,000 of valuation, the same rate as last year.
However, those who received Homestead Exemptions will see their bills go down by $103.25 because of an increase in the exemption, Town Assessor Paul Binnette said. For businesses and vacant lots, the tax bills will remain the same if no improvements have been made that would raise the value of the property.
The town’s share of the Regional School Unit 9 local assessment is still not known, but “we believe the amount is not likely to exceed the present $2.89 million paid,” Binnette said.
By keeping the tax rate steady and if the actual education assessment is closer to $2.77 million, the town would have a healthy overlay of $130,925. If the town’s portion is closer to the present $2.89 million, the overlay would be around $12,000.
Some of the overlay is used for tax abatements; the rest goes into the town’s undesignated fund, which cannot be spent without voter approval, Binnette said.
If the education appropriation is larger than expected, the overlay would cover the amount, Town Manager Rhonda Irish said.
Last year, following a revaluation, the town had an overlay of $86,185 with about $7,000 used in tax abatements, she said. About $79,000 was moved to the undesignated fund.
Selectpersons voiced approval that the town could cover expenses for municipal, county, tax-increment financing and education while keeping the tax rate flat.
Tax bills are expected to be sent out by the end of next week. The first half of the bill is due Nov. 3 and the second half is due by May 1, Irish said.
Town of Wilton
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