Will Milford Residents Face a Tax Increase?
In order to avoid a local tax increase a perfect storm of factors is necessary, and we might have that this year in Milford.
On the city side spending is increasing by about 1.5 percent, and the same thing is happening on the Board of Education side. It's almost a miracle!
Also state aid to Milford is expected to increase next year, which reverses a disturbing trend of declining state aid to Milford.
Again all good news. Even more good news in the quest for a no tax hike is the fact health insurance costs, which routinely spike by about 15 percent annually are now scheduled to either remain flat next year or possibly decrease.
The only remaining unknown is whether there will be a budget surplus available at the end of the fiscal year, which can be used to keep taxes flat. Mayor Ben Blake told me this week he's asked department heads to forecast if there will be surplus dollars available.
Blake said in the coming weeks he expects to have a total, and will have a better idea on whether residents can avoid a tax increase. Currently, taxes are expected to spike per household by about $245.
Again it's my guess that if surplus funds are available, the city can use those dollars to keep taxes as low as possible. Bottom line is it appears a perfect storm is moving through Milford and that may be great news for taxpayers!
What do you think? Do you think you'll avoid a tax increase this year?
Post your comments here.