MILLERTON — North East Town Board members have approved a preliminary budget that projects lower property tax rates.
Town Hall will host a public hearing on next year’s proposed budget Thursday, Nov. 12, just after the board meeting starts at 7 p.m.
Under the preliminary budget, mill rates for each of the town’s funds are projected to come down between 2.46% and 9%. The mill rate is a number used to calculate a property’s tax bill. It represents the tax rate in dollars per $1,000 of home valuation.
The town’s general fund mill rate is expected to drop by 2.46%, according to the preliminary budget available on the town’s website. That amounts to a reduction in tax bills of just under $6 for every $100,000 of home valuation. Tax bills may be estimated by dividing the valuation of a property by 1,000 and then multiplying that amount by the mill rate recorded in the budget.
One of the largest line item increases in this year’s budget is the town’s contract with emergency medical service provider Empress. The town’s expenses for the service increased by $150,000 to $746,345 — a 22% increase over last year’s contract.
The town will have to collect a total of $4,126,049 in tax revenue to cover expenses. That number is $193,919 higher than last year’s budgeted tax levy — an increase of 4.9%. That puts this year’s tax levy above the state-mandated 2% limit.
Town Board members voted to waive that cap in September, anticipating higher costs would put pressure on the budget.
Mill rates are falling this year in spite of rising revenue needs because of an increase in the total assessed value of property within the Town of North East. Next year’s proposed budget notes the total assessed value of property within the town has risen to over $919.4 million, an increase of 8% over last year.






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