Stonington borough budget to be voted on Saturday
This version corrects inaccurate infornation about the impact of the budget and revaluation on the tax rate in an earlier version.
Stonington — The proposed 2018-19 borough budget of $1.25 million shows a 5.4 percent, or $64,382, increase in spending compared to the current budget.
The proposed tax rate is 2.9 compared to the current 2.85, an increase of 0.05 mill.
Due to the revaluation, property owners who wish to determine whether the proposed budget would increase their tax bill, must multiply their new assessment by the proposed tax rate and then compare that to their current tax bill.
Borough Warden Jeff Callahan said that for a homeowner with the median assessment of $460,000, the proposed budget would increase their borough taxes by $22.
The budget calls for no new employees. Some of the increase is the result of a $7,000 increase for health insurance, a $9,000 increase for the every-decade inventory of trees, a $10,000 increase in the building fund and a $20,000 hike in the infrastructure reserve fund.
The budget will be voted on at the annual borough meeting, which will be held at 10 a.m. Saturday at Borough Hall.
Also at the meeting, residents will be asked to approve the borough’s five-year capital improvement plan.
The proposed plan by budget year is as follows:
[naviga:ul]
[naviga:li]2018-19: Repair Main Street between High and Broad; pave Bayview from Elm to the Velvet Mill, evaluate Elm Street footbridge structure, $80,000[/naviga:li]
[naviga:li]2019-20: Pave Denison Avenue and Pearl Street, $90,000[/naviga:li]
[naviga:li]2020- 21: Repair upper Cliff Street and Diving Street; repoint Wayland’s Wharf seawall, $100,000[/naviga:li]
[naviga:li]2021-22: Pave Chesebro Lane and Harmony Street, $100,000[/naviga:li]
[naviga:li]2022-23: Repave lower Water Street, $100,000[/naviga:li]
[/naviga:ul]
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