CHESTER— A proposed $3.64 million town government budget and a proposed $4.15 million appropriation for Chester Elementary School will be presented at the annual budget hearing Wednesday at 7:30 p.m. in the meeting room at town hall.
The $3,649,681 town government budget, which includes a 2.75percent wage/salary increase for town employees and elected officials, is up by $133,626 from the current appropriation. The $4,150,677 budget for Chester Elementary School is down by $31,696 from the current appropriation.
The total $12,507,736 spending package for 2014-2015 also includes a $342,870 capital expenditure plan, and the town’s $4,364,508 share of the Region 4 education budget. The capital plan is down by $30,750. After a sharp drop in the town’s share of the region 4 budget last year because of fewer students from Chester attending Valley Regional High School and John Winthrop Middle School, the Chester share of the proposed Region 4 budget is up by $106,915.
Calculations for the property tax rate have been shaped by the ten-year townwide property revaluation that was completed last year. The revaluation resulted in a, 12 percent drop in the grand list of taxable property, reflecting the decline in property values that followed the Great Recession that began in 2008. More than 90 percent of the town’s residential properties had a decrease in assessed values.
The board of selectmen and finance board, in preparing the spending plan over the past two months, had set a goal of avoiding any actual increase in tax bills for homeowners. While the tax rate is recommended to increase by 3.87 mills, to 24.82 mills from the current rate of 21.95 mills, decreases in assessed values are expected to cover the increase and forestall higher tax bills.
The new rate would represent $24.82 in tax for each $1,000 of assessed property value. With help from a lower share of the Region 4 budget, the tax rate was dropped by one-half mill last year.to fund current spending.
The town and elementary school budgets go to voters for approval at the annual budget meeting on May 22. The Region 4 budget goes to the voters of Chester, Deep River, and Essex in a 12 noon to 8 p.m. referendum on May 6.