Property taxes were lowered and new budgets were passed by unanimous decisions at the regular meeting of the New Boston City Council last week.
The council passed an ad valorem tax rate of $0.284448 per $100 of assessed property value. The new rate is a $0.17 drop from last year’s rate. It also decreases the city’s revenue for the general fund by almost $500,000. The city was able to lower their budget because the interest and sinking (I&S) rate was lowered due to a decrease in debt owed on capital projects, said Pollyanna Moore, city secretary.
Moore is responsible for preparing the $5.7 million general fund and $9.5 million public works budgets which also passed the council.
PLEASE LOG IN FOR PREMIUM CONTENT. Our website requires visitors to log in to view the best local news.
Not yet a subscriber? Subscribe today!
