Berlin sets its tax rates
BERLIN — The Select Board agreed this week to use $150,000 in reserve funds to limit the increase in tax rates for residential and nonresidential properties.
Based on the board’s decision, the municipal portion of the tax rate will increase a fraction of a penny to 41.16 cents per $100 of assessed property value.
That rate, which will cover the cost of running the town and maintaining its roads and bridges this fiscal year, doesn’t reflect newly established education tax rates for residential and nonresidential properties.
The so-called homestead tax rate is $1.3748 per $100 of property value this year — up from $1.3541. When you add the municipal portion, the total tax rate for Berlin residential properties is $1.7864 per $100 of assessed property value — an increase of a little over two cents.
For the second straight year the nonresidential education tax rate is lower than the homestead rate in Berlin. It is locked in at $1.3329, bringing the overall rate for nonresidential property in Berlin to $1.7445.
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