Milton tax rate up by 2.8 percent
On Oct. 26, the state Department of Revenue Administration set the overall tax rate at $24.70 per $1,000 of local valuation. It is 68 cents - or 2.8 percent - greater than last year's rate of $24.02. Meanwhile, the overall valuation of the town decreased by $23,200,402 - or 6.4 percent - from $387,944,220 to $364,743,818.
"So essentially, $20 million of property value evaporated; a sign of the economic times," Town Administrator Tony Mincu explained on the town's webpage, miltonnh-us.com.
"In practical terms this translates to a 90 percent majority of taxpayers as a slight decrease, no increase or a minimal increase in the $30-70 range over last year's tax totals," Mincu wrote.
The tax rate is broken down as $6.33 for town, $13.03 for local school, $2.57 for state schools, and $2.77 for county. Last year, tax rates were broken down as $6.07 for the town, $12.40 for local schools, $2.72 for state schools and $2.83 for the county.