Monroe Budget Referendum: There's Still Time to Vote by Absentee

Polling places for Monroe's annual budget referendum will open Tuesday morning at 6 o'clock and remain open until 8 p.m., but there's still time for those who cannot make it to vote by absentee.

The Monroe Town Clerk's Office was busy issuing ballots from 10 a.m. to noon Saturday, according to one staff member, and on Monday the Town Clerk is offering extended hours once again for absentee ballots. The office at Monroe Town Hall will be open until 6 p.m.

The $80.5 million budget proposal for fiscal year 2013-14 represents a 2.42% spending increase, a 3.44% increase in the amount funded by taxes and a 4.24% mill rate increase.

It has $52,334,919 for education (a 1.72% increase) and $20,197,349 in municipal spending (a 5.22% increase). Municipal debt service is $5,751,542. The budget would be paid for with $68,994,686 in taxes assuming a 98% collection rate.

Calculating Individual Tax Bills

The mill rate would increase from 29.26 mills to 30.5 mills.

A mill is equal to one dollar of tax for each $1,000 of assessed property value. Individual property taxes can be calculated by multiplying your property assessment by the mill rate and dividing it by $1,000.

Assessed value is 70% of fair market value. For example, a house with a fair market value of $300,000 has a property assessment of $210,000. The owner would pay $6,405 in taxes if the budget passes as is, for a $260 increase from the current bill.