HomeMunicipalCity Council adopts annual budget for Fiscal Year 2023

City Council adopts annual budget for Fiscal Year 2023

At the June 14th City Council meeting, City Council adopted both the operating and capital budgets for fiscal year 2023.

The $149,644,462 operating budget is $2,161,577 below the tax cap and reflects Council adjustments, including non-property tax revenue increases to reflect strong motor vehicle registration revenues and Waste Management Host Community Fees, a new Police Lieutenant position, and additional state aid for both the City and School.

Following the adoption of the budget, the projected 2022 tax rate is estimated at $25.34, a $0.69 increase or 2.81% over the 2021 $24.65 rate. For a $250,000 home (without changes to other factors such as the property’s assessment), that increase would amount to an approximate total tax bill increase of $172.50. $71,906,086 of the $149,644,462 operating budget is to be raised by taxes, which is a 4.01% increase over the $69,131,939 amount to be raised by taxes in the FY22 budget.  

The FY 2023 Capital Improvements Program (CIP) for City services, enterprise funds, and the School Department was finalized with the adoption of the $15,199,250 capital budget.

City Council adjustments included cuts to City and School cash CIP and increasing revenues from grant funding sources and Tax Increment Financing Districts.  

“The total allowable FY23 tax effort under the tax cap was $74,067,663 which is a 7.14% increase,” said Deputy City Manager and Finance Director Kathryn Ambrose. “The adopted budget’s 4.01% increase to the tax effort was the result of an ongoing effort to mitigate tax impact while continuing to provide services for which we can be proud.”  

First issue property tax bills are scheduled to be mailed on June 15th with a due date of July 14th, 2022.

Click here to watch the meeting.

Latest Posts

Division of Homeland Security and Emergency Management advises Residents, Visitors to Prepare Now for Extreme Heat

The National Weather Service (NWS) in Gray, Maine, has issued Heat Advisories for most...

Public Works to conduct smoke testing near Wakefield Street, Hanson Street, Museum Way on 6/20

The Utilities Division for the Department of Public Works will be conducting smoke testing...

Statewide Emergency Alert clarified by New Hampshire 911

At approximately 2:30 pm on Tuesday, June 18, New Hampshire residents received an automated...

WATCH: Planning Board – 6/17/24

Click here to watch. Public Meetings are broadcast live on Comcast Channel 22 and Breezeline...

More like this

Public Works to conduct smoke testing near Wakefield Street, Hanson Street, Museum Way on 6/20

The Utilities Division for the Department of Public Works will be conducting smoke testing...

Statewide Emergency Alert clarified by New Hampshire 911

At approximately 2:30 pm on Tuesday, June 18, New Hampshire residents received an automated...

WATCH: Planning Board – 6/17/24

Click here to watch. Public Meetings are broadcast live on Comcast Channel 22 and Breezeline...