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The City Council last night approved an order from Mayor Kos to use $500,000 in free cash to apply to the tax levy in an effort to minimalize the impact the increase in the FY 2017 budget will have on tax payers.
The proposed budget is up 3.14% based upon school needs, insurance costs, and contractual obligations.
“Working with the Mayor we hope to maintain the excellent level of services our residents have come to expect while respecting taxpayer’s ability to pay,” said City Council President John Vieau. “These funds help us do that.”
“I want to thank the City Council for their support as we work to minimalize the impact this year’s budget will have on the taxpayers,” said Mayor Kos. “With increases in insurance costs, the need to assist the School Department to address their budget deficit, and other increases, we are looking at a 3.14% increase in spending in comparison with the 2016 fiscal year. This $500,000 save the average taxpayer $X on their bill while allowing us to address budgetary needs.”