Average increase is $50
Town Treasurer Jim Brown presented the budget to Council at their last meeting and if there are no changes the budget will be passed at the March 13th Council meeting. The Town portion of the budget will see an increase of 2% which would mean an additional $60 on an average house valued at $244,500, but because the Education portion is going down by 2.35%, which represents a $10 decrease, the total increase in taxes will be $50 per household. The total Town budget is $17,994,883 of which $7,104,530 is salaries and benefits, which is 39.5% of the total budget. The top dollar departments in the budget are Public Works with $1.9 million or 16.2%, Recreation at $1.2 million or 10.4%, Policing and Administration at $1.1 million each which is 9.8% per department. Policing will see a decrease next year after the Stratford Police Services takes over which should be in September. For this year the Town has capital expenses for policing as part of the agreement with Stratford. The Reserve Fund is $8.2 million which includes $3.5 million from the PUC Fund.