NORWICH – The Norwich Common Council has received the city’s 2015 tentative budget and, similar to many municipalities across the area, is looking to transcend the state mandated property tax cap levey.
A public hearing for the city’s pending financial plan is set for 6 p.m. Tuesday, Dec. 9 at the Council Chambers on Hubbard Avenue. Additionally, the Common Council will hear public comments on the motion to override the municipal tax cap law.
Facing a $521,000 decrease in revenue excluding property taxes in the last year, the $11.95 million budget floats a 5.39 percent tax rate increase, or about $21.30 per $1,000 assessed value. This means taxpayers with an average $55,000 property can expect to foot an extra $5 per month.
According to city administrators, the budget contends with escalating employee retirement contributions and a shortfall in state aid that negatively impact the general fund account. That account, which makes up approximately 80 percent the total budget, encompasses services including police, fire, EMS, and public works.