The Lyndeborough tax rate is up by 93 cents this year, mainly due to increases in the local school portion of the tax.
The total rate has been set at $29.14 per $1,000 of value, a 3 percent increase over the 2018 tax rate.
The municipal rate increase is offset by a reduction in the county rate, with is set at $1.10 this year, a 20 cent drop since last year.
Town Administrator Russ Boland said Tuesday the town’s increase is mostly attributed to an increase in the town’s budget, which is about 2 percent more than the previous year. Most of those increases are attached to fixed costs such as insurance adjustments and rising fuel and utility costs, Boland said.
The Select Board approved using $118,000 of the town’s unassigned fund balance to offset the municipal rate, which reduced the potential tax rate by 69 cents.
The largest portion of the increase is attributed to the local education portion of the tax, set at $16.51 this year, or an 88 cent increase.
The state education portion of the tax is $2.31, or a 5 cent increase.
A home valued at $200,000 can expect a tax bill of $5,828 this year. A home with the same value last year would have paid $5,642 in taxes in 2018.
Ashley Saari can be reached at 924-7172 ext. 244 or asaari@ledgertranscript.com. She’s on Twitter @AshleySaariMLT.