Bangor approves new $123.2M metropolis and faculty finances

Bangor residents can have the bottom tax fee since 2010 underneath the town’s new finances, however rising residential property values will result in a ten % enhance in property tax payments in 2024.

Bangor councilors authorised a brand new $123.2 million spending plan that covers each the town and faculty division on Monday, which is 5 % increased than final 12 months’s. The town finances, totalling $66.49 million, elevated almost 4 % and the college finances, totalling $56.74 million, elevated by 6.5 %. The Bangor College Committee authorised its finances in early April.

Whereas the brand new finances carries a tax fee of $19.15 per $1,000 of valuation — a $1.25 lower from final 12 months — Bangor residents’ tax payments will probably enhance as a result of rising residential property values.