By John McNamara The Stewart administration is shifting $6 million from a scheduled payment on the city's rising municipal debt--- creating an election year windfall to avert yet another tax increase. The Common Council approved what representatives of William Blair & Company, the city's bond counsel, called a "re-structuring" of a $28 million bond at a special meeting … Continue reading City Hall Watch: Deferring Municipal Debt Payment Means Cash Now, Higher Interest Next Year
Category: property tax
“Revolutionary” State Budget? Property Tax Relief, New ED Aid For NB Is Part of Democratic Package
by John McNamara A tentative agreement among Democratic leaders on a biennial state budget that begins July 1st appears to be good news for New Britain and other municipalities in terms of property tax relief and continued aid to the under-funded city schools. Late Saturday (May 31) Democratic legislative leaders and representatives of the Malloy Administration … Continue reading “Revolutionary” State Budget? Property Tax Relief, New ED Aid For NB Is Part of Democratic Package
Board of Ed Should Consider CT Health Partnership; "Significant" Savings To Support Services Possible
When State Comptroller Kevin Lembo talked with city officials last winter he came bearing potential good news that the city could gain hundreds of thousands of dollars for its municipal and schools' budgets without a new tax or cut to services.It may sound too good to be true but it is real and obtainable as … Continue reading Board of Ed Should Consider CT Health Partnership; "Significant" Savings To Support Services Possible
Rell’s Local Aid: Placing More Burdens On Cities
The mayors of Bridgeport and New Britain have forged a bipartisan alliance to praise Gov. Jodi Rell's budget package for level funding of education aid to cities and towns. All cities and towns will get the same amount for the single largest local expense item -- the schools.According to a New Britain Herald op-ed by … Continue reading Rell’s Local Aid: Placing More Burdens On Cities
Revaluation Makes Tax Increase Inevitable According to the Mayor
A $219.5 million municipal budget was submitted to the City Council last week that will bring a tax increase to residential owners because of state-mandated revaluation, Mayor Timothy Stewart and most city officials say. According to published reports a tax rate of 34.98 ($34.98 per $1,000 valuation) will take effect July 1 if the budget … Continue reading Revaluation Makes Tax Increase Inevitable According to the Mayor
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