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Town council approved the operating and capital budgets for the 2024-25 fiscal year and set the tax rates on April 15. Both the commercial and residential tax rates were dropped by two cents with the new residential rate set at $1.558 per $100 of assessed value and the commercial rate being $3.87 per $100 of assessed value.
He said it took several meetings to find the areas to save in order to reduce the rate to keep property owners’ tax bills as low as possible while still providing the services they are looking for. With the rates being set, the bills going out in May will reflect the new rate as opposed to an interim rate, which was sometimes required in the past when the rates were set later in the fiscal year.A look at the residential and commercial tax rates in Berwick for the past five years.
Clarke said some of the town’s expenses, such as policing and education, have increased significantly and it is feeling the pinch in many areas, making it hard to keep the tax rate down.
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