Is the Town really looking to economize on the capital budget?
Several million dollars in capital requests were denied to ensure that property taxes would not increase due to capital needs. Passing both of the two debt exclusions will NOT increase property taxes since the town is retiring a comparable amount of debt service. There will be two separate debt exclusion questions on the ballot. Both must pass at the polls by a simple 50% majority to be approved. At Annual Town Meeting, there will also be two separate articles for capital items which will both need to pass by a 2/3 majority. A YES vote on the first question on the ballot will allow the town to borrow money to pay to conduct a State-sponsored Feasibility Study/Schematic design on the High School. The town must appropriate the incremental amount needed to fund the cost of the study, but the State will reimburse the town for 40% of the costs on a “pay as you go” basis. Per state formulas based on enrollment, the total cost of the Feasibility Study/Schematic design is estimated to be $1,02
