Property taxes on average Newport house could fall slightly in 2013

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City Administrator Brian Anderson said property taxes are expected to drop by $3 on the median Newport home next year after City Council members voted to certify a $2.3 million 2013 property tax levy.

The levy, part of a proposed $2.4 million 2013 budget, would increase by $10,000 over 2012 if approved in December. Anderson said, however, the average residential property owner could expect a slight drop in taxes paid to the city next year.

Newport’s proposed budget, part of a 10-year financial management plan drawn up by the city this year, includes a $600,000 surplus at city officials say would be directed toward the city’s fund reserves and its Economic Development Authority for use toward future projects.

The surplus also helps the city continue to wean itself from state municipal aid dollars that have become more unstable in recent years as lawmakers have grappled with gaping budget deficits.

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