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The Tax Rate for Woolwich taxpayers

The Woolwich Selectboard voted to maintain this year’s mil rate for the coming year, keeping it at 14.2 for the second year in a row. At Monday’s meeting, the Board noted that, even with a nearly $140,000 increase in the RSU budget and a small increase ($5,552.00) in the County budget, the overall tax rate for Woolwich taxpayers will remain flat. This means that a property assessed at $100,000 will pay $1,420 in taxes, the same as last year.

The Board also noted that this second year of a 14.2 mil rate comes on the heels of a rate decrease from two years ago, despite continued increases in School and County budgets. The Town’s share of the total tax bill is about 25%.

According to the Woolwich contract assessor, Juanita Wilson, the Town picked up $4.6 million in increased valuation throughout the Town and an increase in Personal Property. The Selectboard also pointed to May’s Town Meeting vote, which resulted in a budget decrease of $7,305 over last year.

Selectboard members are pleased at the mil rate results, especially given that property taxes are regressive and, for many taxpayers, constitute a sizeable share of a fixed income. They also pointed out that, beginning this year; the Homestead Exemption will increase by 50%, although the state reimbursement rate to municipalities will stay the same.

The Selectboard also accepted the recommendation of auditor William Brewer to take up to $900,000 from the Undesignated Fund Balance as voted at town meeting in May and apply it to taxes to reduce the overall tax commitment. This still leaves over $400,000 in reserve.

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UpDated - 6/12/17