PORTSMOUTH — After making several eleventh-hour adjustments, the Town Council Monday night voted 5-2 to approve a $59.5 million budget for 2013-14 that represents a 2-percent increase in the tax rate.
The tax rate for the fiscal year beginning July 1 is $14.53 per $1,000 of assessed value. Under the new budget, a homeowner with property valued at $350,000 will pay about $102 more in their tax bill next year.
Although the council’s provisional budget faced little opposition at a public hearing June 18, the council had to do some serious tinkering Monday night in order to make room for more than $150,000 in new spending proposed by Town Administrator John Klimm and Finance Director David Faucher. Eventually, the council pared back the budget in other areas to bring it back to the figure that was presented at a public hearing June 18. The largest reduction was made to the town’s Wastewater Management Program, recently sent to the state Department of Environmental Management for approval, that’s designed to help residents repair or replace their failing septic systems.
For a full report, pick up a copy of this week’s Portsmouth Times.