Edgartown selectmen Monday approved a single tax rate of $3.55 for every $1,000 worth of property, a seven cent decrease over last year’s rate.

The tax rate is pending approval from the state Department of Revenue.

Members of the board of assessors told selectmen Monday that updated assessments show the town is worth nearly $8 billion.

“I hope you feel the weight of your responsibilities,” board of assessors member Alan Gowell said.

In other business during the brief meeting, selectmen discussed winter attendance among zoning board of appeals members. The ZBA had requested the appointment of Mary Costello as an additional alternate because of concerns about getting a quorum during the winter months; selectmen said they would need to advertise first.

Selectman Arthur Smadbeck said he wondered if appointing another alternate would be the right solution.

“If there’s a problem getting a quorum in the wintertime, maybe we need people that are going to be here all year-round,” he said. “It’s a pretty important board. I think even maybe before we do this ad, maybe we should find out.” Selectmen agreed to look into the matter. 

The public meeting concluded with the board going into executive session to discuss exchange of real estate.