Create an Account - Increase your productivity, customize your experience, and engage in information you care about.
Dawn Francis, Town Manager
Proposed Budget FY19
The proposed FY 19 budget maintains our current level of service and addresses increased service demands caused by slow, steady growth over the past decade.
Budget and Tax Rate
The Operating Budget is comprised of twenty-five service categories. Five of these service categories have been reduced. Before factoring in non-tax revenues, the operating budget increase is 2.9%; after subtracting revenues, the net operating budget funded by property taxes increased by $170,538 or 1.67%. Changes are comprised of:
The Capital Budget consists of capital borrowing and capital plans that have been previously authorized by voters. The capital budget totals $1,661,705 and increased by $21,376 or 1.3% over the FY 18 capital budget. The local option tax will pay for $594,463 in voter approved projects. The property tax funded portion of the capital budget is $1,067,242 and increases by $12,125 or 1.1% over last year.
The Combined Operating and Capital Budget is $11,459,649, net of non-property tax revenues. This is an increase of 3.2% ($355,367) over the FY 2018 Combined Budget. With an estimated 1.29% growth in the Grand List the estimated municipal tax rate for FY 2019 is $0.5370. The tax rate is estimated to increase by one cent or a 1.89% increase over the prior year.
How is this tax rate reduction possible?
Additional Budget Information can be found at http://colchestervt.gov/349/Budget-Documents