The budget submitted to a town meeting would have meet the cap. The town meeting has the authority to override the cap. The town meeting has
always had the authority to increase or decrease the submitted budget so adoption of a cap would not really change much.
Quote:
32:5-b Local Tax Cap. – Upon adoption under RSA 32:5-c, the following shall apply:
I. In a town or district that has adopted this section, the estimated amount of local taxes to be raised for the fiscal year, as shown on the budget certified by the governing body or the budget committee and posted with the warrant for the annual meeting pursuant to RSA 32:5, shall not exceed the local taxes raised for the prior year, as shown on the same budget, by more than the tax cap authorized when this section was adopted.
II. The tax cap shall be either a fixed dollar amount or a fixed percentage applied to the amount of local taxes raised by the town or district for the prior fiscal year as reported to the department of revenue administration.
III. The legislative body may override the cap by the usual procedures applicable to annual meetings and deliberative sessions of the legislative body. The provisions of this section shall not limit the legislative body's authority to increase or decrease the amount of any appropriation or the total amount of all appropriations.
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