By Ed Salerno, Reporter
Falmouth City Council called a special meeting on Oct. 5, 2017 to set the 2017-18 tax rates and discuss further the budget for the same fiscal year. As to the tax rates Personal Property was set at $0.750 per $100 of assessed value.
The rate for motor vehicles was set at $0.2040 per $100 of assessed value. If ones car was assessed at $20,000 the tax would be around $40.
As to real estate the rate taken was the compensating rate. It was the only one to go up. But of course those rates are not set by the city they come from the state. Last year it was $0.632 per $100 of assessed value. This year is will be $0.657 per $100 of assessed value. Consequently if one owns a home assessed at $100,000 the tax would be $657.
The last item taken up was the 2017-18 budget for the city. Following much discussion council agreed on a new budget with only minor changes to line items used to pay bills. Following a second reading the budget passed unanimously.
Meeting was adjourned.