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Monday, May 13, 2013

Wallingford Budget to be decided upon at the 5/14 Town Council Meeting

This is your last chance to speak on any items that come up for change on the budget; I will post the full agenda but I can tell you right now it will be a long meeting.

Please see the below information regarding the changes being proposed due to an expected $531,411.00 shortfall from state funding.

The proposal is to make changes to nine general fund expenditures, the largest of which is expected of the Board of Education budget. This is being done to prevent a further increase in taxes.

Before this shortfall of funding from the state, taxes were proposed to go up approximately $46.00 per household on an median assessed home ($191,000.00). If your property is less than this, you could have expected a smaller increase and if it was larger then it would be more.

If these changes are not made or some other changes are not proposed and adopted then the only way to gap the $531,411.00 would be to raise taxes further. To do that the tax increase would need to go up by about an additional $26.00 so the total change for this year would be about $72.00 as listed above rather than the current $46.00