When Edgecomb property owners open their tax bills later this month, they'll see an 11.7 percent increase in the tax rate. The selectmen unanimously approved a 14.9 tax rate on Monday afternoon. The board increased the tax rate to rebuild the municipal surplus account.

A tax assessors' error in the past two fiscal years’ tax commitments resulted in the town using over $400,000 in surplus funds to avoid a rate increase. The error was discovered this spring by town auditor Fred Brewer. He found that the tax assessors failed to include excise tax, road assistance and animal shelter fee revenues in the municipal appropriation figures.

The selectmen used approximately $203,000 in 2012-13 and $234,000 in 2013-14 from surplus to offset the error.The selectmen estimated this year's rate increase would replenish between $50,000 to $60,000 in the municipal surplus account.

“We're not taking anything out of surplus to reduce the tax commitment this year. We really need to build it up over the next few years to get back to where we were,” Selectman Stuart Smith said.

The selectmen estimated the town currently has over $150,000 in surplus. Town officials want to send the tax bills out by month's end in order to start receiving tax revenue. The board is considering taking out a tax anticipation note to cover short term municipal expenses later this year.

“We're not sure how much is needed,” Selectman Jack Sarmanian said. “We hoping by sending the tax bills out a little earlier it will result in the town needing a smaller TAN.”

The town is required to raise $3,100,405 this fiscal year. The state calculated the town’s valuation  at $210,997,178. Edgecomb's overall tax commitment was reduced by 9.4 percent by state aid, according to municipal calculations.

The largest share of town revenues will go to the local school district. The town will spend $2,098,215 or 64.7 percent of the municipal budget for education. Municipal spending is $1,332,528 or 27.6 percent of the budget. County taxes are $250,315 or 7.7 percent of the municipal budget.

Property owners have until November 30 to pay their taxes without penalty.