WESTPORT, Conn. -- Westport's mill rate will not increase in the coming fiscal year, meaning that property taxes will stay flat, town officials announced Thursday.
The Board of Finance voted unanimously at its meeting Wednesday night to keep the mill rate at 16.86 for the 2017-18 fiscal year, a 0 percent increase over the previous year. The board also expressed concern about the possibility of the state imposing additional financial obligations on towns that may lead to mid-year supplemental assessment, town officials said.
“I am proud of our department heads for working diligently to control costs and improve efficiencies, while at the same time maintaining and enhancing our infrastructure," said First Selectman Jim Marpe. "We have been able to absorb the fully restored school budget through the efforts of all town departments. We continue to reform our pension and health programs as we continue to fully fund our obligations and aggressively pay down debt.”
"Our grand list continues to grow and enables us to mitigate property tax increases, reflecting the confidence residents and businesses have in investing in Westport,” Marpe continued.
"While not raising property taxes, we will also be able to retain reserves at 11 percent, at the high end of our policy range and consistent with the town’s Aaa rating,” said Board of Finance Chairman Brian Stern. “As we have discussed during the budget hearings, we are aware of deliberations in Hartford that may impose a significant additional annual obligation on Westport and similar communities. These potential obligations may necessitate a mid-year supplemental property tax increase. The Board of Finance will continue its conservative approach to protect Westport’s financial stability.”
Click here to sign up for Daily Voice's free daily emails and news alerts.