Norwich holds hearing on town budget tonight
NORWICH – The Town of Norwich Board will hold a public hearing tonight to discuss its proposed 2011 budget with taxpayers.
Supervisor David Law said the proposed $1,535,837.89 budget includes no general tax, but noted property owners will see a 12-cent rise per $1,000 of assessed value, citing a fire service agreement with the City of Norwich.
The board will hold the public hearing at 7 p.m. at the town hall on Hale Street Extension before voting to accept the budget.
In 2010, the town paid $535,667 for the fire service contract and is looking at contributing $550,934 in 2011, an increase of 2.85 percent. Law said this translates into a $5.49 increase to the town’s average home owner in the coming year.
The town’s tentative highway budget for next year is $341,211.64, an anticipated $5,678.88 increase from the 2010 actual budget. The town was approved for about $71,000 from the state’s Consolidated Highway Improvement Program in 2010. There is no increase on the current .75 cents per $1,000 highway tax.
Law said the town’s medical and retirement cost have also increased. He explained the town was looking at contributing $13,872 to its employees’ retirement in 2010, but estimates nearly double that amount in 2011. He said health care costs for the town were also up around 14 percent from last year.
Law said these increases would not be felt by the employees currently working for the town, explaining they would be absorbed by the municipality’s sales tax revenues.
The Town of Norwich received just over $350,000 in sales tax revenue in 2010. Law said the amount has been steady over the last two years, but is down from the $400,000 in tax revenues the municipality had received in earlier years. Though costs were increasing and sales and mortgage taxes decreasing, Law explained that the town is far ahead of any fiscal problems, noting it has a half million dollars in a “rainy day” reserve fund and still receives around $92,000 quarterly from sales tax revenue.
Law said that apart from the 12 cent raise regarding the fire service contract, there will be no substantial increases in local taxes.
“Everything we either kept the same as last year and only few a things more a penny or two per 1,000,” he said.
Supervisor David Law said the proposed $1,535,837.89 budget includes no general tax, but noted property owners will see a 12-cent rise per $1,000 of assessed value, citing a fire service agreement with the City of Norwich.
The board will hold the public hearing at 7 p.m. at the town hall on Hale Street Extension before voting to accept the budget.
In 2010, the town paid $535,667 for the fire service contract and is looking at contributing $550,934 in 2011, an increase of 2.85 percent. Law said this translates into a $5.49 increase to the town’s average home owner in the coming year.
The town’s tentative highway budget for next year is $341,211.64, an anticipated $5,678.88 increase from the 2010 actual budget. The town was approved for about $71,000 from the state’s Consolidated Highway Improvement Program in 2010. There is no increase on the current .75 cents per $1,000 highway tax.
Law said the town’s medical and retirement cost have also increased. He explained the town was looking at contributing $13,872 to its employees’ retirement in 2010, but estimates nearly double that amount in 2011. He said health care costs for the town were also up around 14 percent from last year.
Law said these increases would not be felt by the employees currently working for the town, explaining they would be absorbed by the municipality’s sales tax revenues.
The Town of Norwich received just over $350,000 in sales tax revenue in 2010. Law said the amount has been steady over the last two years, but is down from the $400,000 in tax revenues the municipality had received in earlier years. Though costs were increasing and sales and mortgage taxes decreasing, Law explained that the town is far ahead of any fiscal problems, noting it has a half million dollars in a “rainy day” reserve fund and still receives around $92,000 quarterly from sales tax revenue.
Law said that apart from the 12 cent raise regarding the fire service contract, there will be no substantial increases in local taxes.
“Everything we either kept the same as last year and only few a things more a penny or two per 1,000,” he said.
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