Newport City Council approves FY2024-25 tax rates after reading of components

The Newport City Council voted to approve the city's fiscal-year 2024-25 tax rates after Treasurer Johnson read the full set of rate components.

Treasurer Johnson (Speaker 6) told the council the rate calculations are based on the Aug. 12, 2024 grand list and then read the line items: the municipal rate is 1.5419 per $100, appropriations 0.0525, exemptions 0.0225, and the residential education portion 1.7677, yielding a total residential rate of 3.3846. He read the corresponding nonresidential education component (1.8276) producing a nonresidential total of 3.4445.

Council members sought confirmation of the grand-list figure (discussing comma placements in the document) and asked for Treasury to read the rates aloud before voting. After the rates were read in full, the mayor called for a voice vote; the motion carried and the council approved the rates for publication and billing.

The council did not change the line items after the reading. Several council members asked procedural questions about the grand list and prior-year comparisons; Treasurer Johnson said the grand list is slightly larger than the prior year. The council indicated the rates are a formality tied to the grant and budget list the treasurer referenced.

Next steps: City staff will publish the adopted rate schedule and proceed with billing for FY2024-25.