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Falmouth faces 5.4% tax hike after $41.2 million school budget approved Share The Falmouth Town Council approved a million school budget Monday, paving the way for voters to have the final say in a June 8 referendum. The $41,020,986  budget for the 2021-2022 school year is up 3.91% over this school year’s budget. The new budget includes 10% spending increases for both technology and facilities management. On the municipal side, the town budget of $14,975,221, approved at the April 26 council meeting, is up 8.46% over the current fiscal year budget. Personnel expenses increases, including wages, retirement and health insurance, added $578,161 to the budget. Finance Director Peter McHugh said the two budgets result in overall town property tax rate increase of 92 cents, or 5.4%, from $17.05 per $1,000 of assessed value this year to $17.97 for the next fiscal year. The owner of a $500,000 home, for example, will pay an additional $460 in taxes next year.

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