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Thursday, May 22, 2014

Finance Board Decreases Town’s Tax Rate

By James Lomuscio

Saying that Westport taxpayers deserve some relief in light of healthy revenues and strong town reserves, the Board of Finance tonight voted unanimously to decrease the town’s mill rate by just under 1 percent.

The mill rate will go from the current 18.07 to 17.94, a .72 percent reduction. The mill rate is the amount a home is taxed on every $1,000 of its assessed value. That means the taxes on home assessed at $1 million will decrease from $18,070 to $17,940 next year.

Brian Stern, finance board vice chairman, called it “a small decrease,” but added “symbolically it will be very large.”

“This sends a message, not only to households but to businesses in town that taxes don’t always go up,” Stern said. “They go down when the conditions are right.”

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