The Newcastle Board of Selectmen met Monday, July 6 and voted unanimously to raise the town’s mil rate to $18.05, an increase from last year’s mil rate of $17.40.
The mil rate determines the property tax per $1,000 of property value. For example, someone who owns a $100,000 property in Newcastle would receive a $1,805 bill, an increase of $65 over last year.
Increases of $170,875 in the secondary education budget, $63,438 in the elementary education budget, and $55,018.52 in the municipal budget contribute to the need for the increase. Selectmen also cited the need to add to the town’s low fund balance.
(Editor’s note: A version of this article on page 5 of the July 9 print edition incorrectly reports the 2015-2016 mil rate as $18.50. The Lincoln County News regrets the error.)
