Friday, May 21, 2010

Taxes To Rise $159.00 Per Avg. House

Taxes on the typical home in Milford will rise $159 next year under the 2010-11 budget plan the Milford Board of Aldermen adopted Monday night.

The typical home is described as a Cape or raised ranch, valued at $337,900.

Taxes on that typical home were expected to rise $160 next year before the aldermen wrangled several hours Monday night, adjusting the city-wide spending plan by about $457,000, which included about $100,000 in Democrat-proposed reductions and other adjustments throughout the budget.

The new $175.5 million budget will produce a tax rate of 28.44 mills, up from the current rate of 27.50 mills. The mill rate represents the amount of taxes property owners pay for each $1,000 in assessed property value.


No comments: