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PRESS RELEASE FROM THE WOOLWICH SELECTBOARD - 27 Sept 2016

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 - 5/14/17