NORWICH – The Norwich Common Council has received the city’s 2015 tentative budget and, similar to many municipalities across the area, is looking to transcend the state mandated property tax cap levey.
A public hearing for the city’s pending financial plan is set for 6 p.m. Tuesday, Dec. 9 at the Council Chambers on Hubbard Avenue. Additionally, the Common Council will hear public comments on the motion to override the municipal tax cap law.
Facing a $521,000 decrease in revenue excluding property taxes in the last year, the $11.95 million budget floats a 5.39 percent tax rate increase, or about $21.30 per $1,000 assessed value. This means taxpayers with an average $55,000 property can expect to foot an extra $5 per month.