BOONSBORO -- Facing a reduction in the town's assessable tax base of about $15 million, Boonsboro Town Council members agreed Monday night to increase the property tax rate by slightly more than two cents.
Town Manager Debra Smith told council members that the tax assessment base in the Boonsboro area is decreasing from about $298 million to $283 million.
To offset the decline, council members agreed to increase the town's property tax rate from 30 cents per $100 of assessed value to slightly more than 32 cents per $100 of assessed value.
Smith said the change will increase homeowners' tax bills by about $2.23 cents per $100 off assessed value.
The Washington County Commissioners will not be giving the town about $127,000 a year in what was known as "tax differential" money.