Council Meeting Monday, April 17th
FY2024 Budget (Second Reading)
The Council will meet this upcoming Monday evening, April 17th, at 7:30 p.m. via Zoom and phone dial-in. To attend the virtual meeting, please see the connection information at the bottom of this message.
The Council will consider two items in the next meeting:
- A request for a variance for a special permit for a 5' foot fence on Woodberry Street
- A second reading of the FY2024 Town Budget
This proposed budget includes a tax cut in our Real Property Tax Rate, bringing it to .4559 per $100 of assessed property value, which is four cents less than the Constant Yield Rate of .4959 per $100 of assessed property value. This decrease in the tax rate equates to $198,012 less in real property tax revenue to the town and an equal savings to our residents. This rate is .0608 less than the .5167 per $100 of assessed value set by the Council for Fiscal Year 2023.
This budget maintains the quality level of services our residents have come to expect. It makes investments in a cleaner and brighter future. It gives our police department additional tools to enhance police accountability. And, it gives our hard-working staff a 4.4% cost of living increase.
The proposed tax cut relies in no way on our share of the American Rescue Plan Act (ARPA) funds. All ARPA funds are designated for town infrastructure projects that are completely unrelated to the town's daily operations and annual operating budget. Instead, this proposed tax cut is made possible by a prudent use of taxpayer resources, the significant interest earned on our budget reserves, and the additional revenue from our traffic enforcement program that allows us to fund police department operations with other resources beyond our property taxes. Despite this tax cut, we are also able to contribute over $90,000 to our town's reserve funds, which are independent of our ARPA funds and currently total approximately $2.5 Million. Our town is fiscally strong.
You can read more about my proposed budget along with the underlying analysis and proposed investments either in the Town's Agenda center at this link or directly by clicking on the below graphic. An overview of the proposed tax rate is included here for your convenience.