Groton Town Council holds line on tax rate
Groton — The Town Council on Tuesday kept the tax rate at its current 24.17 mills for the next fiscal year.
The town's Fiscal Year 2020 budget is $129,052,746, a 2.5 percent increase over the current budget. It takes $1,095,000 from the unassigned fund balance to maintain the tax rate at its current level, according to Finance Director Cindy Landry.
In its review of the budget earlier this year, the council had reduced the town manager’s budget of $129,421,737 by $359,045 to $129,062,692.
The Representative Town Meeting last month reduced by $9,946 the spending plan the council passed. The RTM decreased the capital reserve by $25,000 and added back $15,054 for Groton Long Point Police, according to budget documents.
With the use of the $1,095,000 from the town's unassigned fund balance, the fund balance on June 30, 2020 is estimated at 17.18 percent, according to budget documents.
The council on Tuesday thanked the RTM, Landry, town staff, and Town Manager John Burt for their work on the budget.
Town Mayor Patrice Granatosky read aloud a statement to the town:
"The Town Council has adopted a budget that has stabilized your mill rate," she said. "When you elected us, we promised to make the tough decisions in order to do what is best for Groton. We have done that and will continue to do so for the good of Groton, no matter what corner of town you live in."
"We are looking over the horizon to ensure long term fiscal stability. We have improved our fund balance from 7.75% to 17%; controlled costs; and limited unnecessary debt, while ensuring the health and viability of critical town functions and valuable services that make Groton a better community, for all of us," she said. "We’ve balanced needs and wants to ensure public safety, libraries, and schools are funded, without asking taxpayers to shoulder excessive tax increases year after year."
Granatosky further noted projects in Groton, including ThayerMahan's investment in the community, coastal resiliency initiatives, an update to the pavement management study, and the opening of the Groton Community Center.
The council on Tuesday also set a tax rate of 0.34 mills for Mumford Cove, the same as the current year, and a tax rate of 0.28 mills for the Groton Sewer District, up from 0.27 mills this year.
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