FARMINGTON — Selectmen on Tuesday night set the 2009 tax rate at $15.30 per $1,000 of valuation, 2 cents higher than last year, Assessor Mark Caldwell said Wednesday.
Setting the rate did not require any funds to be used from the town’s undesignated fund balance and it gives the town an overlay of $11,399.72.
Caldwell estimated in a memorandum to selectmen that it would be an adequate amount to cover abatements in 2009.
The net taxable value for 2009 rose $7.37 million, or 1.82 percent, to $411.7 million. That’s up from $404.3 million from the previous year’s calculations, according to Caldwell.
“The increase in value is made up of numerous small value changes to properties throughout the town, new homes, new or renovated commercial properties, and most notably, a sizable change to the Tree Growth value,” Caldwell stated.
The town’s total appropriations are $8.24 million. Of that amount, $436,896 is for Franklin County tax, $4.3 million is for municipal government, $18,488.85 is for tax-increment financing, and $3.4 million is for school.
The town is anticipating $1.95 million in revenue. The net to be raised by local property tax is $6.29 million, Caldwell’s data shows.
Tax bills will be sent out in the near future, Caldwell said, and will be due the first Monday in November.
dperry@sunjournal.com
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.