Fairfield Tax Rate Challenge

A Referendum Petition is being prepared.

It is asking for a $2.1 Million cut to the BOE Budget.

This is not a wise move. As we learned this week during the RTM discussions, the State has guidelines that penalize Towns that don't maintain BOE funding to certain levels.

With the budget we just passed, we are in violation and will have to increase BOE funding by $48,000 or face a 2 to 1 dollar penalty in reduction of future State funding. So as of right now, the Town must take $48,000 out of contingency and move it over to the BOE budget line.

If the Referendum passes, beside the detrimental effect on our school system, it would have a major impact on the finances of our entire Town making us lose 2. to 1 or $4.2 Million in State funding....I am not quite sure of the mechanics and will have to get more information for you on that one.

This would be a disaster of major proportions... It is really important to the Town's financial well being that no additional cuts are made to the BOE budget - it will cost us more than we cut in quality education and in dollars.

I will pass on more updates as they are available...thanks for listening, Mike

The Mill Rate is multiplied by your homes Assessed Value to determine your Annual Tax bill.