It looks like tax rates will be going down in the Town of Shelburne.

A two cent decrease in both the residential and commercial rates is proposed.

That will put the residential rate at $1.99 per $100 of assessment, and the commercial rate at $3.86.

Mayor Harold Locke says the town’s financial position continues to improve.

“What we have in reserves is increasing considerably. We are much better off financially, and can afford to do things now that we couldn’t in the past,” said Mayor Locke.

Locke says future development in the town like the new Roseway Manor and hotel will help them put more money away and continue to lower rates.

The operating budget is over $4.6 million, that’s up 4.6 percent.

Council will officially vote on the budget at their next meeting on May 21.

Read the full budget document here.