The Town Administrator has published his recommended FY16 budget with a $1.85 million increase. According to TA Mark Purple, the budget calls for an average tax bill increase of 2.87%.
Purple estimated an average homeowner could pay $256 more in taxes. But he pointed out to the Board of Selectmen that town-wide assessments of property values the town has been conducting could effect the figures.
The TA walked the board through the budget highlights last night. He explained the actual tax burden may be lower.
Purple said that the budget is based on level funding from the state. But he shared that the Governor’s office announced this week that an increase in local aid is coming. He quoted Lt Governor Karyn Polito as saying “Level funding is a cut.”
Another budget variable is an insurance hike the Town needs to deal with. Only three days prior, they learned that one of their health insurance providers is planning a 16.5% increase in reaction to a claim filed this year.
He reassured the board that they are investigating other providers and options. And Purple told selectmen that if they can’t get a better rate, the increase could cause employees to switch plans, which would mitigate the increase. But for now, the hike is included in the budget as a worst case scenario. [click to keep reading…]
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