Tax hike likely here

Property owners in all classes will see a small tax increase this year after town council votes on the 2007 budget at a meeting slated for April 23.
At a budget meeting Monday, council received a report from treasurer Laurie Witherspoon noting that in order to balance the 2007 operating budget, the town will have to raise property taxes.
If passed, the residential class will see a levy hike of 2.54 percent, which equals a total increase of $44.51 per $100,000 of assessment on that property.
Multi-residential stands to see a hike of 2.79 percent ($109.47 per $100,000 of assessment) while commercial taxes will go up 0.83 percent ($46.55 per $100,000).
The industrial levy will increase 1.09 percent ($52.55 per $100,000) while large industrial will go up 1.09 percent ($95.83 per $100,000).
And the pipeline property class tax rate will jump by 1.91 percent, or $112.26 per $100,000 of assessment.
Collectively, the proposed tax increases will generate $219,940.
A public meeting regarding the budget will be held Monday, April 23. At that time, the budget and proposed tax increases will be fully explained.
Council then will vote whether to pass it.
Last year, taxes for residential ratepayers went up 2.6 percent while commercial-occupied jumped by .85 percent.
Multi-residential increased by 2.87 percent while industrial and large industrial-occupied rose 1.1 percent.