8.7 Percent Tax Rate Increase To Be Voted On By Town Council

GROTON, CT - Groton residents are currently facing the possibility of an 8.7 percent tax rate increase, the New London Day reported. The Town Council will vote Tuesday on the potential increase to fund the budget for the coming fiscal year.

The council based its budget on an estimated $5 million loss in state education funding, according to the New London Day. The amount of state aid that will go to the town is still unknown, as the state has not adopted a budget yet. (To sign up for Groton breaking news alerts and more, click here.)

Officials said the loss in state education funding would require an increase in the tax rate from 21.73 mills to 23.63 mills, the New London Day reported. It was originally proposed that Groton’s budget would require a tax rate increase of 15.4 percent.

Read the full story at the New London Day.

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