FARMINGTON — Town Manager Erica LaCroix announced Tuesday that the property tax rate for the coming year is $21.45 per $1,000 in valuation, an increase of $1.54.
The rate last year needed to be recalculated after selectmen voted to use different figures than those in four scenarios presented them. The rate last year was $19.91.
“The average home value in Farmington is $153,000,” LaCroix wrote in an email announcing the new rate. “The new tax bill on that value would be $3,289.12, an increase of $236 over last year.”
Selectmen had planned to set the rate at their Oct. 8 meeting. The value of the solar farm west of Farmington was not known, which would be a factor in determining the rate, Assessor Frank Xu said then. The farm has new owners, he said.
Selectmen voted 4-1 Oct. 8 to use $150,000 from the downtown tax increment financing account and have an overlay of $50,000 for rate calculations. Joshua Bell, Richard Morton, Matthew Smith and Byron Staples supported those figures. Dennis O’Neil opposed, preferring to use $100,000 and $30,000, respectively.
LaCroix said taxes will be due Nov. 26.
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