Finance board sets mill rate

0
13

BEACON FALLS — The Board of Finance set the mill rate for the 2015-16 fiscal year at a meeting last week.

The mill rate was set at 33.4, which is a 0.9 increase over the current mill rate.

The mill rate is the amount of taxes payable on the assessed value of property. One mill equals $1 for every $1,000 of assessed value. Under a 33.4 mill rate, a home assessed at $150,000 will pay $5,010 in taxes, an increase of $135 over current taxes.

The town’s total 2015-16 budget is $21.2 million budget. The municipal budget is $6.2 million. The town’s share of the school budget for Region 16, which oversees schools in Beacon Falls and Prospect, is $14.9 million.

First Selectman Christopher Bielik said the increase in the mill rate broke down to a 0.1 mill increase for the municipal budget and a 0.8 mill increase for the Board of Education budget.

The total budget anticipates level funding from the state, which officials are confident they’ll receive. The state budget is expected to be approved Wednesday.