Community Corner
Portland Approves $30.8 Million Budget
Residents backed the 2013-14 budget 315-188. Because of a slight increase in the mill rate taxes will be going up for Portland residents.
Portland residents voted in favor of a $30.8 million municipal and school budget during a referendum on Monday.
The vote was 315-188, according to a post on the Town of Portland's website.
According to the Middletown Press, the spending increase from the current fiscal year to the upcoming year is $377,260. The newspaper also reported that the turnout was considerably low, as only 8.3 percent of registered voters cast ballots.
The budget is split $18.9 million for the school system and $11.8 million for the town. The mill rate will be going up from 30.73 to 31.28, meaning a slight increase in taxes for town residents.
To calculate one's tax rate based on the newest mill rate, you would multiply the assessed value of your home by the mill rate and then divide that by $1,000.
So, if a resident owned a home work $150,000, that person's taxes would be $4,692 for the upcoming year.
To read the full budget, click on the PDF attached to this article.
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