The Hallowell City Council has adopted a budget that will keep property taxes flat over the next year.
Councilors on Monday unanimously approved the $2.4 million municipal budget for the fiscal year beginning in July, down 3 percent from last year, said Mayor Mark Walker. Taxes increased by 3 percent last year and 8 percent in 2013, and holding the line was a goal this year in Hallowell. They’ll stay at $17.60 per $1,000 of assessed property value, or $3,520 on a $200,000 home.
“I’m very happy with that,” Walker said.
The budget absorbed a 2 percent increase in funding for Regional School Unit 2, the district that also serves Monmouth, Richmond, Farmingdale and Dresden and that required roughly 4 percent more in property taxes from each community. It also funds two road projects — a $100,000 reconstruction of Mayflower Road and $100,000 in paving and other work on Central Street.
But this year’s budget was helped by a one-time transfer of about $175,000 in Maine Public Employees Retirement System surplus funds that the city has been using to pay retirement costs in recent years. The city now will have to pay those costs each year.
Michael Shepherd — 370-7652
Twitter: @mikeshepherdme
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