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I&S: The debt service rate includes the debt service necessary to pay the Town’s debt payments in
the coming year. This rate accounts for principal and interest on bonds and other debt secured by
property tax revenue.
Please see the tax rate change from FY20/21 adopted to FY21/22 proposed below:
F
Tax Rate Change FY20/21 Y21/22 ance
r
i
Va
Adopted Proposed
M&O $0.12490 $0.10284 $(0.02206)
I&S $0.04298 $0.06504 $ 0.02206
Total $0.16788 $0.16788 $ 0.00
The allocation for M&O is $.10284 and totals $1.7M. The allocation for I&S debt service is $0.06504
and totals $1.1M.
0.18
0.16
0.14
0.12
0.10
0.08
0.06
0.04
0.02
0.00
M&O Rate I&S Rate
This graph depicts the historical allocation of property tax between Maintenance and Operations and Interest and Sinking
from FY10/11 – FY21/22 Proposed.
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