Upon passage of the Town budget in accordance with section 11.8 of this chapter, the amount stated therein as the amount to be raised by property taxes shall constitute a determination of the amount of the levy for the purposes of the Town in the corresponding tax year and the Selectboard shall levy such taxes on the grand list furnished by the Assessing Department for the corresponding tax year. (Amended 2011, No. M-7, § 2, eff. May 17, 2011.)