Tax rates are going up in the Town of Yarmouth.
The residential rate is two cents higher, at $1.71 per $100 of assessment, and the commercial rate went up four cents to $4.35.
Mayor Pam Mood says it amounts to a small increase on your tax bill.
“If I put that in perspective, a $100,000 may be around $40 a year in increases, so it won’t be much,” said Mayor Mood.
She says costs are rising in this economy.
“Winter street salting costs rose by 119% to $200,000, insurance went up, policing was up eight percent, education by seven percent, and that’s a million dollars right there.”
Mood says it’s something they had to do.
“That means our tax rates go up too, and nobody is happy with that. But we had to do it to continue to provide the top-notch services that our businesses and residents are getting.”
The town passed a $21.5 million operating budget with a small surplus.
They transferred $2.3 million to their capital fund.
