At the May 21 North Branford Town Council meeting, the 2013-14 mill rate was officially approved at 29.10 mills, which is a 1.33 mill increase.
So what does this mean for your wallet? Property taxes are going up.
Here's an example of how to compute your taxes based on a home with a full value of $200,000 with an assessed value at 70 percent (200,000 x .70 = 140,000).
With the current mill rate of 27.77, your taxes would be $3,887.80 annually (140,000 x .02777).
The new mill rate of 29.10 will increase your annual taxes by $186.20 for $4,074 annually (140,000 x .0291).
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