Middlebury tax rate jumps 3.3 percent

MIDDLEBURY — Middlebury selectmen on Monday approved a fiscal year 2010 residential property tax rate of $2.4627 per $100 in property value, amounting to a 7.8-cent increase compared to the current rate of $2.3840 — an increase of about 3.3 percent.
Approximately 7.7 cents of the increase is a result of public school-related expenses.
The new rate translates into a property tax bill of $4,925 for a homestead (house and two acres) valued at $200,000, according to Middlebury Assistant Town Manager Joe Colangelo.
The board also approved a non-residential property tax rate of $2.3866 per $100 in property value, up almost 10 cents from the current rate of $2.2871.
Both the residential and non-residential rates include a new, fiscal year 2010 municipal property tax rate of 80.91 cents, up very slightly from the current municipal rate of 80.76 cents. Selectmen had sought to keep the municipal tax rate unchanged, and very nearly did.
The slight boost is due to a town meeting decision to support the American Red Cross’s funding request of $2,000; and because the grand list fell around $5 million short of meeting projected values.

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