New London approved levy increase but property taxes will drop for many
NEW LONDON -- On a 3-2 vote Wednesday, the New London City Council approved a 10.7 percent levy increase for 2010, but also approved a zero increase in the tax rate.
For those homeowners whose property values stayed the same, that will mean a zero increase in city taxes, said City Administrator Trudie Guptill.
Many residents saw their property values stay even or even drop, she said. The overall taxable market value for New London increased, however.
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