BRANDON — The municipal tax rate in Brandon will see an increase of about 3 percent this coming fiscal year, rising from last year’s 93 cents per $100 of assessed property value to 96 cents this year.
The breakdowns for the 2019- 2020 tax rates are 80 cents for the town budget, 6 cents for various voter-approved appropriations and 8 cents for the fire district.
The education tax rates have been calculated by the state and come out to $1.33 for homeowners and $1.55 for non-residents per $100.
With education rates figured in, the total tax rate for a Brandon resident will be $2.29 for residents and $2.51 for commercial properties and second homes. That means a resident who owns a $200,000 home will pay $4,580 in taxes this coming year. That equates to an increase of about $80 over last year’s rates.
Most homeowners can get a break on the education portion of their property taxes through a state-issued prebate, which is based on household income.
The board voted to unanimously approve the rates earlier this month.