MINOT — The Select Board voted to raise the town’s mill rate by $1.15 to $11.15 per $1,000 of a property’s valuation at its Monday night’s meeting.
This means a property tax of $1,115 per $100,000 of a home’s value.
Most of the increase is due to Regional School Unit 16’s proposed budget of $29.3 million, which was voted down in the June 11 referendum after being initially passed at the earlier district budget meeting. The budget failed in referendum again July 30.
According to state law, in order to meet the municipal property tax commitment, the RSU district budget meeting amount must be used to determine local taxes regardless if the validation referendum is voted down.
Once a final RSU 16 budget is passed and is lower than the district budget, the RSU will credit the communities.
Minot used $100,000 from its Undesignated Fund Balance of $3.1 million to lessen the effect on property tax owners.
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