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05/05/2017

May 8 public hearing on $38.7 million combined 2017-18 municipal budget; proposed tax hike 3.9 percent

The Town Council will hold a public hearing at 7 p.m. Monday, May 8, 2017 at Town Hall on a combined $38.7 million budget for town, school and county services for 2017-18.

Proposed spending is up 2.2 percent over this year's $37.9 million combined budget. Taxes are proposed to increase to $18.22 per $1,000 of assessed valuation, 68 cents over this year's rate, or 3.9 percent.

The finance committee, a committee of the whole council, voted unanimously May 1 to send the budget to the council for public hearing.

The council will take public comment on the proposed budget on May 8, with final vote at a special meeting Monday, May 15. A townwide validation vote on the school budget will be held June 13.

Here is a summary of the budget proposals. More detailed information is available in this website's budget section:

Budget summary and proposed tax impact: [download]

   FY 2017   FY 2018   $ Change % Change
   BUDGET   BUDGET  FY 17  to FY 18 FY 17  to FY 18
EXPENDITURES        
TOTAL MUNICIPAL  $    12,052,688  $    12,185,599  $           132,911 1.1%
COUNTY ASSESSMENT  $      1,247,048  $      1,331,050  $             84,002 6.7%
Local Homestead Exemption  $         312,000  $         320,000  $               8,000 2.6%
SCHOOL DEPARTMENT  $    24,287,545  $    24,879,014  $           591,469 2.4%
   $    37,899,281  $    38,715,663  $           816,382 2.2%
         
REVENUE        
TOTAL MUNICIPAL  $      4,950,000  $      4,938,670  $           (11,330) -0.2%
SCHOOL DEPARTMENT  $      3,433,270  $      3,012,658  $          (420,612) -12.3%
TOTAL  $      8,383,270  $      7,951,328  $          (431,942) -5.2%
         
NET TO TAXES        
TOWN  SERVICES  $      7,102,688  $      7,246,929  $           144,241 2.0%
Local Homestead Exemption  $         312,000  $         320,000  $               8,000 2.6%
COUNTY ASSESSMENT  $      1,247,048  $      1,331,050  $             84,002 6.7%
SCHOOL DEPARTMENT  $    20,854,275  $    21,866,356  $        1,012,081 4.9%
TOTAL  $    29,516,011  $    30,764,335  $        1,248,324 4.2%
         
TAX RATES (Rounded to nearest ¢)        
 Local Homestead Exemption  $              0.18  $              0.19  $                0.01 5.6%
TOTAL MUNICIPAL  $              4.22  $              4.29  $                0.07 1.7%
COUNTY ASSESSMENT  $              0.74  $              0.79  $                0.05 6.6%
SCHOOL DEPARTMENT  $             12.40  $             12.95  $                0.55 4.4%
TOTAL  $             17.54  $             18.22  $                0.68 3.9%
         
TAX RATE VALUATION BASIS   1,682,000,000   1,688,300,000  $   6,300,000.00 0.4%

 

 

 



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    PO Box 6260
    Cape Elizabeth, ME
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