MONKTON — Tax rates are down for Monkton residents, but a 4 percent change in the common level of appraisal (CLA) will result in bigger tax bills this year. Nonresidents, whose tax rates went up, will see substantial increases to their bills.
The total property tax rate for Monkton residents is $1.8984 per $100 of assessed property value, a decrease of 2.5 percent from last year. The total nonresidential tax rate is $1.9308, a 4 percent increase over last year.
The Monkton selectboard on Aug. 13 approved a 9 percent reduction in the municipal tax rate, which it set at $0.3582 per $100 of assessed property value.
The town’s residential education tax rate for fiscal year 2019 decreased slightly to $1.5402, in part due to Act 46 school consolidation incentives, which include a tax rate discount of 8 cents this year. On July 1 schools in the Addison Northeast Supervisory Union merged into the Mount Abraham Unified School District and will now be governed by one school board.
Monkton’s nonresidential education tax rate increased by 7 percent to $1.5726.
The CLA decreased by 4.32 points to 100.47. Whereas last year the CLA reduced tax bills by nearly 5 percent, this year it will have little effect.
Residents paying on the full value of their property will see a tax increase of $31 per $100,000 of assessed value, and nonresidents will see a tax increase of $149 per $100,000 of assessed value.
Residents who pay based on their incomes are likely to receive prebates for a portion of their school tax bills. About two-thirds of county residents receive prebates.
— Christopher Ross