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Officials aim to keep tax hike under 2 percent

Photo by File Photo

Town Hall will be included in what initially was a security study of Westport schools.

While the town's new mill rate won't be set until later this month, town officials say their goal is to keep any increase to less than 2 percent over the current tax rate of 18.07 mills.

At the current tax rate, the owner of a residential property assessed at $600,000 (with a market value of $857,000) would pay $10,842 in property taxes, according to town Finance Director Gary Conrad.

For each 1 percent increase in the mill rate, taxes on that home would increase $108.42, he said.

The new taxes will finance the spending package for 2014-15 approved last week by the Representative Town Meeting: $76,595,682,, a 0.63 percent increase over current spending for the town side of the ledger, and the Board of Education's $109,202,984 operating budget, a 4.82 percent increase over its current budget.

The overall budget -- including accounts for things like debt service -- stands at $198,249,184, a 2.45 percent increase over current spending.

The Board of Finance is scheduled to meet May 21 to set the tax rate to fund the new budget, which takes effect July 1.