BY SUSAN CLARK

Bedford property owners will have to dig deeper this year to help pay for the new schools and a $20 million road bond.

Though the town and the school district have yet to receive confirmation from the state Department of Revenue Administration, the projected tax rate for 2008 is expected to be $3.67 on the town side and $14.22 for schools.

The projected town tax rate of $3.67 per $1,000 property valuation is 82 cents more than last year’s rate of $2.85, or a 28.8 percent increase. According to Town Manager Russ Marcoux, the 82 cents was the same estimate given to voters in March.

For Bedford schools, the 2008 tax rate of $14.22 per $1,000 property valuation is an increase of $1.81 or 14.6 percent  over last year’s rate of $12.41. That amount came in less than anticipated, said Superintendent of Schools Tim Mayes.

That means the owners of a home valued at $350,000 would pay about $6,261 in taxes – an increase of $920 per year.

The new tax rate is expected  to be OK’d by the state in early October and bills are due Dec. 1.

Marcoux said the $20 million road improvement bond approved by voters has a major impact on the new town tax rate.

“The road bond is 68 percent of the estimated tax rate increase,” said Marcoux. “It’s important to remember that the 82 cent (increase) is for the road bond, some changes in the MRI study for fire and police (departments), as well as elderly and veteran exemptions that were approved by the Town Council,” said Marcoux.

The biggest chunk of the $20 million road bond is payable this year, but is up in 2008, said Marcoux. However, the Town Council will probably discuss bringing other road improvements to voters in the future, he said.

“The condition of our roads is something you hear all the time,” said Marcoux. “We still have a lot of roads that need to be done. It’s important that we invest in our infrastructure.”

The elderly exemptions were approved by the Town Council in August to help ease the burden on qualifying taxpayers.

Seniors aged 65 to 74 will see an adjusted exemption of $76,350 of their property assessment. Those aged 75 to 79 can exempt $81,350. Those older than 80 may take $52,000 to $120,000 in tax exemption.

To take an exemption, seniors must meet eligibility requirements regarding income and net assets. The tax impact for the remaining taxpayers is about 3 cents per $1,000 property valuation.

Veterans will receive an annual tax credit of $500 on the town side.

Marcoux also predicts the town has other items that needs addressing in the future such as health and safety concerns  with the town office building, public works equipment, recreation fields, a new town garage, funding for fire and police to meet MRI study recommendations and increasing retirement rates.

Before the tax rate is set, towns and school districts must meet with the state Department of Revenue Administration to  present budgets and revenues. The state then compiles the information and sets the tax rates.

“It takes a great deal of time to get it compiled and almost six months to set rates,” said Mayes.

This year’s tax rate is less than originally projected, he said.

“It’s a significant increase, but it’s a lot better than the $2.49 prediction,” he said.

That accounts for a $200,000  surplus in the operating budget, a higher yield on bond investments and additional catatrophic special education aid and adequate education aid.

“Since the project began in 2005 when we sold the bonds, we invested those funds and have done quite well,” he said.

The School Board, Mayes said, decided to reserve that money to lower the tax burden.

Groups such as the PTG, the sports leagues and the Bedford Education Foundation also offered a great deal of support by donating money toward education and sports-related items to help taxpayers, he said.

Mayes said the district will also experience challenges in the future.

The saying, “If you build it, they will come” has come true in Bedford’s case, he said.

The district has 47 new students this year. Also, when projecting enrollments, the district estimates 100 students would go to private schools, but this year, only 30 chose to be educated outside the district.

Though school administrators’ enrollment predictions are about 97 to 100 percent accurate each year, growth may come earlier than expected. But, Mayes said, the new schools were built to allow additions and extra classrooms.

BCTV will broadcast a discussion about tax rates with Mayes and Marcoux beginning Thursday, Sept. 27. Check this week’s Bedford Bulletin Page A-8 or www.bedfordtv.com for times.