Middlebury raises town tax rate just a hair

MIDDLEBURY — The Middlebury selectboard on Tuesday approved a new municipal tax rate of 98.36 cents for fiscal year 2019, which begins on July 1 and runs through June 30, 2019.
The new rate represents a bump of 14-tenths of a penny compared to the current rate of 98.22 cents per $100 in property value.
Middlebury Town Manager Kathleen Ramsay is anticipating updated education property tax information from the state of Vermont as soon as June 30. That data will allow the selectboard to set an overall property tax rate for the community next month.
Middlebury’s current (fiscal year 2018) residential property tax rate is $2.8059 per $100 of assessed value, and its non-residential rate stands at $2.7409.
On March 5, Middlebury voters approved an FY ’19 general fund operating budget of $10,547,426, with $7,331,905 of that to be raised by taxes. Voters also approved the use of $57,484 from the town’s Cross Street Bridge fund surplus to offset the increase in capital expenditures next year, thereby further reducing the amount to be raised to $7,274,421.
Several years ago, the town raised the veterans’ property tax exemption from $10,000 to $40,000 of assessed value.
Middlebury’s FY2019 grand list, as determined by the board of listers, is $7,561,074. The Grand List is the total value of taxable property, divided by 100.
This year’s municipal rate includes the customary 2 cents for the Middlebury Fire Equipment Fund.

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