Wiscasset property owners will see their property taxes rise 14.1 percent. Selectmen voted Tuesday night to take $600,000 from the undesignated fund balance to keep the increase from running as high as 22 percent.

Without any exemptions factored in, homeowners with property valued at $100,000 can expect an increase of approximately $230 according to estimates the town office released.

Last week, selectmen put off setting the tax rate until after they could meet again with their auditor, RHR Smith & Co. of Buxton. The postponement was to determine how much they could safely take from the undesignated fund balance.

On Sept. 6, selectmen voted 3-2 to take $1 million from it, against the advice of Chris Bachman from RHR Smith & Co. Bachman had warned taking more than $600,000 could leave the town short of cash during the coming fiscal year. He also told selectmen the town required approximately $1 million a month to meet its expenses. This year’s budget, including the operation of the schools and the county appropriation, is just over $11.9 million.

The board’s decision also ran counter to its own policy guidelines to keep two months’ worth of monies in the fund balance.

At Tuesday’s meeting, it remained unclear how much was in there.

Treasurer Shari Fredette told selectmen RHR hadn’t completed its audit of the town’s books. She suggested they stay with the amount recommended by Bachman.

After agreeing to reconsider their earlier decision, selectmen then voted unanimously to earmark $600,000 from the undesignated fund balance.

The board’s decision means the tax rate rises from the current $16.40 per thousand dollars of assessed valuation to $18.71. Using no monies from the undesignated fund balance would have pushed the rate to $20.00 and resulted in a 22-percent hike in property taxes.  

The 2016-17 budget includes $228,234 to pay down a 10-year bond to cover the cost of withdrawing from Sheepscot Valley Regional School Unit 12.

Voters helped reduce this year’s property taxes in June when they approved articles taking $486,430 from the town’s $10.5 million capital reserve account.