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New Milford auditor outlines tighter 2025 budget; average homeowner to pay $199 more
Summary
Borough auditor Steven Wilcox presented a 2025 municipal budget that reduces the local tax rate while raising assessments; council introduced the budget and set a public hearing date.
Auditor Steven Wilcox told the Mayor and Council of the Borough of New Milford on March 10 that the borough’s 2025 municipal budget was shaped by rising costs, higher interest rates and a reassessment that raised average residential values.
Wilcox said the average residential assessment rose from about $330,000 to $643,000 after the latest reassessment, and that the borough’s local tax rate will fall from $1.023 to…
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