Nottingham taxes up less than 1 percent this year
On Nov. 7, the state Department of Revenue Administration set the overall tax rate at $20.42 per $1,000 of valuation. It is 18 cents - or 0.9 percent - greater than last year's rate, of $20.48.
The total tax rate is broken down as follows: $4.68 for the town, $12.18 for local schools, $2.46 for state schools and $1.10 for the county. Last year, it was $4.12 for the town, $12.58 for local schools, $2.49 for state schools and $1.05 for the county.
"Part of the reason it was such a small increase was the fact the school had such a huge surplus," Brown said, adding the district returned a balance of $560,528 from last year's budget. While towns can retain some surplus finds for emergencies, Brown said, schools must return them for now. He added the school district has been able to return more than $300,000 each year in the past, which helps offset taxes.
Nonetheless, Brown said, residents allocate the funds in the first place. In order to present a level-funded budget next year, Brown said, the town must overcome a 19 percent increase in health insurance and $119,000 less in automotive registration revenues.
Brown said the town could save $53,000 if it reduced the recycling center from full-time to part-time operations next year.
"I still have a few items to address as the year progresses," Brown said, adding budget season has just begun. The overall valuation of the town increased by $2,420,645 - or 0.6 percent - from $536,734,044 to $540,154,689.