MONROE, Conn. — The Board of Finance approved a $113.6 million town budget with a 4.2 percent tax increase Thursday, which will go to voters for a referendum on May 5. Polls will be open at the Community Center, 707 Monroe Turnpike, from 6 a.m. until 8 p.m.
The mill rate would increase from 28.67 mills to 29.879. Individual tax bills can be calculated by multiplying one’s assessed property value by 29.879 — the rate the Board of Finance is expected to set if the budget is approved at referendum — and then dividing by 1,000.
The $113,643,817 operating budget includes $35,943,054 for municipal services and contingency funding and $77,700,763 for education.
Following reductions of $250,000 from the majority of the Board of Education and $1.6 million from First Selectman Terry Rooney were made to the Board of Education budget during the process, the Board of Finance restored $1 million with an additional $200,000 reserved in contingency.
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