Henry Raymond
Fairfax News => Political Issues/Comments => Topic started by: Henry on January 28, 2005, 12:42:55 PM
-
Hi All,
In checking with the listers, the reappraisal figures are not expected to be complete until April or May. A number of places have been done from the outside, but the inside still needs to be done and arrangements need to be made to do that. Once these are done a complete listing will be sent to everyone of all the houses in town with their appraisal value. In regards to the tax rate, that may be difficult if not impossible to be set until this is done.
Meanwhile, I guess the best that can be done is to review last years budget and revenue vs the 2005 budget and anticipated revenue which I have a scanned photo of below:
(http://www.vtgrandpa.com/newsclips/budget_05.jpg)
(http://www.vtgrandpa.com/newsclips/revenue_05.jpg)
-
One way to look at the proposed financial changes is there is an 11% increase in proposed budget expenditures for 2005.
The amount of the Articles is significantly less than prior year. (see warning)
Proposed 2005 Budget = $1,296,620
Proposed 2005 Articles Total $126,060
Total Proposed for 2005 = $1,422,680
Approved 2004 Budget = $1,171,104
Plus approve articles $163,932
Total 2004 Approved = $1,335,036
Difference in totals = $87,644 increase or a 6.56% increase
Yet the starting cash balance in the checking account (the carry over balance) is significantly less than in prior years. There was a $52,287 surplus from 2003 carried forward to 2004. This amout reduced the amount needed to be raised by taxes.
This year the cash balance in the checking account is $ 3,562. A significantly less amount to apply to expenses.
According to the 2005 Town Warning of the proposed $1,296,620 budget, $1,047,634 will be raised by taxes. Assuming all the Articles pass, the total to be raised by taxes will be $1,173,694
For 2004 the budget was $1,171,104 of which $883,294 was raised by taxes. Add the approved Articles of $163,932 and the total paid by town taxpayers was $1,047,226 for 2004 .
Difference $126,468 or a 12.07% increase.
THE ABOVE IS STRICTLY MY INTERPRETATION OF THE PROPOSED FINANCIAL CHANGES TO THE TOWN BUDGET. I hope to get some clarificaton at Town Meeting.
Last year the 2004 residential tax rate was $2.317.
The School Board confirmed at the Feb. 7th Public Informational meeting, a proposed 10 cent increase from $1.79 to $1.89. So we know we would be going from $2.317 to $2.417.
I wish I knew how the CLA value is used to calucate the tax rate. It is $72.25 for 2005 down from $76.68
It would be nice if the Town could calculate the rate change. We do know the Town rate for 2004 was $0.53 cents.