NEW MILFORD — Residents will decide if the town should sell one of its surplus properties at a town meeting next week.

The 1.64 acre property is at 82 Perry Drive and is an undeveloped lot. It is listed for $40,000.

It originally went for $50,000 in 2017, according to the last online listing from July.

The lot is in an existing neighborhood near Candlewood Lake.

Mayor Pete Bass said the listing agent hired by the town has a buyer interested in purchasing the land and building a home on it.

“This will allow the property to go back on the tax roll and the town can start collecting taxes on it,” Bass said.

He added only part of the site was good for building and so it was better for the town to sell it.

Bass said the town has had the property for a while and believes it acquired it because of a tax issue.

The town has been examining its surplus properties and trying to sell some of them so that they can generate taxes again. This is one of those properties, Bass said.

A lot of these properties are small parcels that are generally attractive only to property owners that neighbor those lots and are looking to expand, he said.

The meeting will be held at 6:45 p.m. Monday in the E. Paul Martin Room in town hall.; 203-731-3345