This letter is from the Colchester selectboard.
Colchester Residents and Business Owners,
Please vote on the annual budget for your Town of Colchester municipal services. The proposed FY 22 budget maintains our current level of service and addresses needs in emergency management, fiscal recovery, cemetery capital, materials for road maintenance and staffing for fire vehicle maintenance.
These needs are related both to the COVID emergency and were caused by slow, steady growth over past decades.
This memo discusses the operating budget, capital funding, estimated tax rate, and long-term fiscal constraint. The tax impact of the operating budget, along with previously approved capital items, is a 2.0% increase to municipal service property taxes. For more information: https://tinyurl.com/Col-Town-Bud
Capital Funding: The tax rate is impacted by previously authorized voter approved taxes to support capital projects totaling $1,605,413. Local option taxes fund bond/lease purchase payments of $485,105, leaving $1,120,308 to be raised from property taxes.
Tax Rate: The Municipal Services Budget and Capital Funding total $12,429,334, net of non-property tax revenues. With an estimated 1.2% growth in the Grand List, the estimated municipal tax rate for FY 2022 is $0.5592. The tax rate is estimated to increase by $0.0112 (a little more than one cent) or a 2.0% increase over the prior year.
Long Term Fiscal Constraint: In June 2020, the Selectboard set the FY 21 Town tax rate of $0.5480 per hundred dollars of property value. This rate was less than the rate of $0.5530 set eight years ago for the FY 2013 tax bills. Based on 2020-21 taxes, taxes are the third lowest per resident among the seven inner Chittenden County communities.
The Selectboard thanks you for the opportunity to serve our community. We encourage you to vote on or before Tuesday, March 2, 2021.
The Colchester Selectboard
Pamela Loranger, Chair
Tom Mulcahy, Vice Chair
Jacki Murphy, Clerk
Julie Hulburd, Member
Charlie Papillo, Member