“In your statement that you claim that there are no raising of taxes this year, indeed taxes were raised last year, affecting this year town-wide at 4%, during a pandemic with no empathy towards the hardship, that it contributes to. However, properties in the districts in the North end and Lordship were decreased by 8%, while homes in my district, D3 (South End) and D4 & D5, which are considered Low/Moderate Income families have an average tax increase of 20%!!!
Question: What/ Where is the Town is expecting to spend 4.7 million of COVID19 fund on? Where are the defined allocations of these funds? What restrictions are there for its use? Are there repercussions for its use other than its intended application? Is this fund being used to pay for basic operating costs?
For the third straight year, the use of taxpayers’ credit card, borrowed money, is being used to fund operating costs, approximately $10 million, which is equal to a 2mill (6%) tax increase. and since as in any loan, it has to be paid back, thereby being a future liability to every taxpayer. Even at 0%, that $10 million debt service represents a $500 tax increase to every Stratford resident.
Question: How is this being addressed?
The Mayor’s press release stated bond re-financing has created $3 million in relief for 2021/2022. The Town’s debt service expense increased by $800,000 (page 23 of the budget). If the $3 million relief is true, that means that the Town’s debt principal expense has increased by nearly $4 million.
Question: How is this being addressed?
I KNOW THERE ARE MORE QUESTIONS TO ASK. WE WILL COVER THE GAME PLAN AGAIN TONIGHT. I WANTED TO PREPARE YOU FOR GOING OVER HOW YOU ASCERTAINED THE NUMBERS ON PAGE 23 OF THE BUDGET, AND ALSO IF THE $10 MILLION IS THE AMOUNT BORROWED TO PAY THE DEBT.”
Paul Tavaras
Stratford District 3, Councilman (D)
