UA-8412995-1 The Southport Globe: Tetreau proposes '14 budget with 6.3% tax increase

Thursday, February 21, 2013

Tetreau proposes '14 budget with 6.3% tax increase

First Selectman Michael Tetreau's proposed fiscal year 2013-14 budget calls for 6.38 percent tax increase, despite trimming the Board of Education and town department head requests by $1.1 million and $1.8 million, respectively.
"This budget represents one more year of taking our medicine to pay for past decisions and to put us in a stronger position moving forward," Tetreau told a joint meeting of the Board of Selectmen and the Board of Finance on Tuesday as he unveiled his $287 million spending plan. Of that amount, $154.7 million is allocated for the school system, reduced from $155.8 million sought by the Board of Education. The current school budget is $148.9 million.
In addition to the $5.7 million education budget increase, some of the largest increases include a $3 million bump to fund town employee pensions; $2.3 million more for contingency; $1.6 million in debt service, and another $1 million for paving. Salary and wages show an increase of $942,720.
With a 24.86-mill rate to finance the budget as proposed, the tax bill on a home assessed at $350,000 would increase from $8,179 to $8,701. READ MORE: http://www.fairfieldcitizenonline.com/news/article/Tetreau-proposes-14-budget-with-6-3-tax-increase-4293037.php

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