POWNAL, Vt. -- The Select Board has set a tax rate reflecting about a 5 cent increase on the rate, or $55 more per $100,000, of a property's assessed value.
The homestead rate was set Thursday at $1.6480 per $100 on a property's assessed value, while the nonresidential rate was set at $1.7882 per $100 on a property's assessed value. The increases are largely in the state education tax, which is set by the state.
The figures are derived when the state education tax rate is added to the municipal tax rate. The municipal rate is a combination of the general fund rate and the road fund rate.
In 2011, the municipal rate, which is the town's general fund and road fund combined, was $0.4391. This year it is $0.4245, a decrease of $0.146.
The homestead state education tax in 2011 was $1.1670. This year it is $1.228, an increase of about five and half cents. The nonresidential rate last year was $1.3565. This year it is $1.3630, an increase of slightly more than half a cent.
Pownal taxpayers have also been paying a flat fee for the sewer bond used to fund the Waste Water Treatment Facility. In 2011, the rate for developed parcels and non-developed parcels was $76 and $38 respectively. This year the town was able to refinance the bond and had the rate lowered to $20 for developed parcels and $10 for non-developed ones.
Taxes are due Nov. 13.
It was reported to the board that $153,473 remains to be collected
In other business, the board accepted a bid from Frank W. Whitcomb Construction Corp. to blacktop Barber's Pond Road at the rate of $75.90 per ton of material, for a total cost of $136,620. Other bidders were Peckham Industries at $78 per ton and Wilkes Construction at $81.50 per ton.