New Milford Residents Could See Tax Cuts For Second Year in a Row
There's one thing you can always count on in life and that's taxes. But if you're a New Milford resident, this could be the second year in a row that you luck out.
The town budget proposal for the 2022 fiscal year was recently announced by New Milford Mayor Pete Bass, and once again this year he's looking to reduce taxes by 2.47%. If passed, it would be historic and the first time in over three decades that the town cut taxes in consecutive years.
So why is the town going back to back with these tax cuts? Mayor Pete Bass explained to newstimes.com about the proposal:
We were trying everything possible this year to really mitigate a tax rate increase. We know everyone is just trying to get through the pandemic. I’m hopeful that once the public takes a look at the budget and sees that we’ve done everything possible for us to have this reduction, especially this year due to COVID, that they’ll agree with us during the voting when the budget does come before them. Last year, for the first time, a pandemic-era executive order from the governor meant that residents did not get to vote on the town’s municipal budget and we heard loud and clear from the public that they definitely want to vote.
Now don't get too excited just yet, this is only the first step in getting this budget approved. The budget will move this week to a joint hearing with the Board of Education, then to the Board of Finance for another hearing. Then, if all goes well, Mayor Bass will put the budget up for a for a town vote either sometime in April or May.
The other good news is the tax cuts would not impact the town's revenue since the property values have increased and there has been housing and business growth in New Milford which looks to continue through 2022.
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