POWNAL — The Select Board has approved a new town government tax rate that reflects an increase of 1.67 cents per $100 property valuation.
However, with a reduction in the state education taxes because of an unexpected surplus in the education fund and other factors, the overall Pownal rate is down.
The municipal rate includes a general fund rate of $0.3298 per $100 valuation, which is up $0.133 over 2021, and a highway fund budget rate of $0.3024, an increase of $0.0034 over 2021.
Those figures add up to total municipal rate of $0.6350 per $100, which is up $0.0167.
Meanwhile, the state education homestead tax rate for Pownal is $1.3098 for $100 valuation, which reflects a decrease of $0.0380, and a non-residential property rate of $1.5081, a decrease of $0.0452.
Pownal property owners also pay a flax tax for the wastewater treatment plant bond of $75 for a developed parcel and $37.50 for an undeveloped parcel.
Taken together, the town and education tax rate was set at $1.9448 per $100 of valuation plus the flat tax, showing a decline of $0.0213 for the homestead rate, and $2.1431 per $100 plus the flat tax on nonresidential property, reflecting a decline of $0.0285.
The homestead tax bill on $100,000 of property would be $1,944.80.
The Select Board unanimously approved the new municipal rate Thursday without discussion. The rate figures are posted on the town website in the board’s agenda packet.
The 2022 rate will support a $2,816,358 municipal budget, which is up $18,446. The Pownal education budget totals $2,771,115, an increase of $16,620.