Quote:
Originally Posted by tummyman
Yes, but one member of the BOS....Ms. Beadle....was entrenched in not using a larger portion of the EXCESS unassigned fund balance that is at a 17+% rate vs. the BOS target of 12.5% to offset the increase in tax rate and voted to abstain from the final vote. Bottom line, she was OK raising your taxes with a flat year over year tax rate and keeping excess money way over the board target in the town rainy day "bank" account instead of returning more of it to taxpayers when there was a significant increase in assessed valuations. At least the remaining four board members did the correct thing for taxpayers. Congratulations to Selectman McGee for putting up a fight to get a lower rate for taxpayers.
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If I'm reading this correctly, you're upset that more of the "rainy day fund" wasn't liquidated to reduce taxes?
If so, and I accept that I don't know all the details as my overall tax is very low so I don't pay much attention, I would rather keep as much money in the RDF as possible without greatly increasing taxes because, in the long run, that can be more beneficial.
Case in point: 15 years ago, my town had money put aside for a new library. The people in charge then decided to liquidate that, something like $2M, for a one-time tax reduction. Most people got, like, $200 back and now, almost two decades later, we have an old, inefficient library, and it would cost exponentially more to have a new one built.
In short, my town will probably never have a new library for an average household savings of $200 in one tax year.
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