Correction: Proposed rate up 11 cents

Friday, February 3, 2012

After the Bedford Journal story “Proposed budget would mean 10 cent increase” went to press for the Jan. 27 publication, the town recalculated the tax rate resulting from changes to the municipal operating budget during the public hearing held Jan. 25. Acting Town Manager, Tax Collector and Finance/Personnel Director Crystal Dionne reported that the new estimated rate for taxpayers is $4.34 per $1,000 assessed valuation, an 11-cent tax rate increase over 2011 (not $4.33, a 10-cent tax rate increase, as originally reported).

After the public hearing, the Town Council agreed to reduce the town’s fund balance reserve by $200,000, from $300,000 to $100,000 for 2012, reducing residents’ tax rate by 6 cents, Dionne said.

The council also approved an additional $5,200 in appropriations for voter registration, which was “just enough to tip the scale a penny,” Dionne said.

Only 5 cents of the 11-cent tax rate increase includes the town’s municipal operating budget costs; 6 cents come from NHRS increases and interest payments on the 2011 infrastructure bond, council Chairman Bill Dermody said.