Lincoln property tax rates edge higher
LINCOLN — School tax rates are going down for fiscal year 2022 in Lincoln, but not by enough to offset an increase in the municipal tax rate. As a result most Lincoln residents will see slightly higher tax bills in the coming year.
The Lincoln selectboard has set the municipal tax rate at $0.7248 per $100 of assessed property value, an increase of $0.0821, or 12.8% over the current year.
At the same time, Lincoln’s residential educational property tax rate decreased by $0.0436, or 2.8%, to $1.5266.
The nonresidential educational property tax rate decreased by $0.0258, or 1.7%, to $1.5122.
The total property tax rate for Lincoln residents in the coming year will be $2.2514, an increase of $0.0385, or 1.7%, and the total nonresidential tax rate will be $2.237, an increase of $0.0563, or 2.6%.
Lincoln’s common level of appraisal (CLA), as reported by the Vermont Department of Taxes, increased by three-quarters of a point to 106.6.
Residents paying on the full value of their property will see a tax increase of $38.50 per $100,000 of assessed value, while nonresidents will see an increase of $56.30.
Lincoln residents who pay based on their incomes are very likely to receive prebates for a portion of their school tax bills, and some will also receive municipal tax credits.
In 2020, Lincoln residents received a combined total of $555,560 in educational and municipal property tax credits, or an average of $1,649 per recipient.
New tax bills were mailed out Aug. 21, and the first installment is due Oct. 13.
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