DAYTON — The town will use additional educational subsidy from the state to help offset taxes.
“Great news for the Dayton community,” announced Superintendent of Schools Jeremy Ray in a letter read at a special Town Meeting Monday. Yhe town will receive $50,500 in additional state educational subsidy.
“I am pleased to be able to share with you some positive financial news after our first year of operation as a school department,” he wrote.
The school board recommended the additional money be used to decrease the mil rate.
Prior to the news of the additional subsidy, it was thought that the mil rate would increase from the current $20.85 to about $21.10.
Now the new mil rate is expected to decrease to an estimated $20.77, said Town Treasurer Angela Cushman.
The town selectmen will set the mil rate at an Aug. 10 meeting, said Cushman, and tax bills will be sent out later that month.
The current mil rate estimate for the upcoming year would mean an 8 cent reduction. For a home valued at $200,000, property taxes would decrease by $16.
— Staff Writer Liz Gotthelf can be contacted at 282-1535, ext. 325 or egotthelf@journaltribune.com.
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