Financiers poised to adjust tax rate if school referendum succeeds
The Board of Finance has set June 16 as the date for a special meeting in case the new tax rate for the 2011-12 fiscal year has to be adjusted upward because of Tuesday's referendum seeking to restore $800,000 to the education budget.
Referendum supporters want to add the $800,000 to the $145.6 million Board of Education budget -- the amount cut by the Representative Town Meeting last month.
To succeed, 25 percent of the town's registered voters -- a figure right now that is a little over 8,600 -- would have to vote "yes" in favor of restoring the money and also be in the majority.
If that happens, Board of Finance Chairman Thomas Flynn said the panel will have to meet again on the tax rate to tweak the previously set figure of 22.47 mills -- to cover the additional $800,000 -- "and we need to do that as quickly as possible."
Until the referendum outcome is known, Flynn said, the tax collector cannot send tax bills. If the referendum fails, the mill rate will remain the same.
If necessary, Fiscal Officer Paul Hiller said a conference could can be arranged in order to have a quorum on the tax rate adjustment.
"Let's make our best effort" to be there June 16, Flynn urged fellow board members. The meeting will be held in Sullivan-Independence Hall, but the time was not set.