LIVERMORE FALLS — Voters on Wednesday approved taking $100,000 from the general fund balance, resulting in a tax rate of $21.60 for 2017-18.

Five voters attended the special town meeting, deciding to use the money to reduce the tax commitment. If they hadn’t, the rate would have been $22.20.

The 2016-17 tax rate was $20.90.

Without the homestead exemption, taxes on a $100,000 home would be $2,160 for 2017-18. With the exemption the amount would be $1,728.

Resident Ron Chadwick asked how much was in the general fund balance.

Selectmen said they believed it was $1.4 million.

“In January, we had an article that said we wanted to take out approximately $83,000 to $84,000 from the general fund balance that had $1.1 million,” Chadwick said. “We closed the books in June. We haven’t had an audit yet. How did we gain $300,000 from January to June not having an audit?”

Selectmen admitted they didn’t know the exact amount.

Chadwick said that while the $100,000 would help a lot of taxpayers out, eventually selectmen would either have to cut spending or find other revenue sources to operate the town.

Chairman Heather Bronish explained that the $100,000 represented the amount of extra taxes collected last year.

“That was the reasoning for it instead of raising the (tax) rate so high,” she said.

[email protected]