Waterford finance board sets tax rate
Publication: The Day
Waterford - The Board of Finance Wednesday set the tax rate for 2010-11 at 18.04 mills, a 7 percent increase over the current fiscal year.
The board set the mill rate following the Representative Town Meeting's approval of the $72.01 million budget for 2010-11 earlier this month.
The 2010-11 fiscal year will be the final year Waterford receives money from the System Benefit Charge, the fund established in 2000 to cope with the loss of tax revenue due to the deregulation and sale of Millstone Power Station.
In other business, the board approved a $35,000 contribution toward the construction of a new playground in the Civic Triangle set to open in October.
The town is expected to approve an additional $35,000 in the new fiscal year toward the $169,500 playground.
More than half of the funds came from private sources.
Work on the playground is expected to start in August.
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