Lincoln tax bills going up, but not by much
LINCOLN — The Lincoln tax bills that just went out have increased for fiscal year 2020, but not by much.
The town selectboard on Aug. 6 set the coming year’s municipal tax rate at $0.6501 per $100 of assessed property value, an increase of 1.15 cents, or 1.8 percent.
Lincoln’s residential education tax rate for FY 2020 increased by less than a cent (or 0.6 percent) to $1.493, in part because this year the Mount Abraham Unified School District is not receiving the one-time tax discount of $0.08 it received last year as part of Act 46 school consolidation incentives.
The nonresidential education tax rate increased by less than a quarter of a cent (or 0.2 percent) to $1.4678.
The total property tax rate for Lincoln residents is $2.1431, a $0.0209 (or 1 percent) increase over last year, and the total nonresidential tax rate is $2.1179, a $0.0144 (or 0.7 percent) increase over last year.
Lincoln’s common level of appraisal (CLA), as reported by the Vermont Department of Taxes, increased by 1.24 points to 108.6.
Whereas last year Lincoln residents paying on the full value of their property saw a decrease of $87.40 per $100,000 of assessed value, this year they will see an increase of $20.90 per $100,000. Nonresidents will see a smaller increase: $14.40 per $100,000.
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.
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