Quote:
Originally Posted by smith point boater
Anyone know (not speculation) why the Alton tax rate jumped 11.5% ($13.95 vs $12.51). Certainly the approved town budget didn't increase that much. FYI - Property values do not appear to have changed
Just askin'
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The major part of the tax bill is the school budget, I don't know what happened there.
In a previous year, maybe last year, the BOS voted to use a large sum out of "undesignated reserves" to reduce taxes. In general this feel good action is not a good idea. The reserves, also know as "surplus", are both an emergency fund and also to keep the town from having to take short term loans to meet expenses between tax collections. The reserves are not unlimited so come the next year...............