question on local taxes - spend or send to Concord?

[mishman]

I have a question about local taxes. If a town with a lot of waterfront like Meredith does not spend all their tax revenue locally, does the excess get sent to Concord to somehow equalize a town with a lower value tax base? In other words, is there a perverse incentive to find all kinds of ways to spend local tax dollars locally rather than ship the unspent money to the State?