ARUNDEL — The new fiscal tax rate for Arundel has been established at $15.50 per $1,000 of valuation, which is a 2.5 percent increase.

According to an update from Arundel Town Manager Keith Trefethen posted on the town’s website, this represents an increase of about 38 cents per $1,000 of valuation.

The previous year fiscal tax rate in Arundel was $15.12 per $1,000 of valuation.

Trefethen said several factors resulted in the modest adjustment to the town’s tax rate.

“First all entities (municipal-school-county) worked hard to provide to voters a budget with reasonable changes,” Trefethen said in the update to town residents. “Second we anticipate a small increase in collected revenue. However, the Board of Selectmen and Budget Board felt a more robust fund balance use was warranted ($200,000 to $300,000).”

He said the town’s total valuation base rose from $421,532,817 to $436,251,718 in the past fiscal year.

That amounts to a gain of $14,718,901 in total valuation or about 3.5 percent from the previous fiscal year.

“All these numbers combined and calculated provide the town the tax rate as adjusted,” Trefethen said in the update. 

Under the new tax rate, a home with a valuation of $200,000 would see a $76 increase in the amount of taxes paid ($3,024 to $3,100). 

— Executive Editor Ed Pierce can be reached at 282-1535 ext. 326 or by email at editor@journaltribune.com.