The Barrington Town Board has approved a 2020 budget that uses $150,000 in reserves to reduce the tax bill for a property valued at $100,000 by roughly $30.
At the Oct. 23 Barrington Town Board meeting, Supervisor Steve Perry presented the town’s general and highway budget for a public hearing, and the public heard good news — a reduction in the tax rate per thousand.
Perry declared it a good budget that was the result of a lot of hard work by many people. He extended his thanks to the board, to Town Clerk Joy Perry, to bookkeeper Helene Ribble and the departments. He said the overall reduction was achieved by not over-budgeting line items and using capital reserves.
“We did this to help the taxpayers,” said Perry, “To correct some of the over-budgeting from the last 10 years.”
That was key to the budget. The 2020 budget appropriates $75,000 from the capital reserve fund for the general budget of $401,062, resulting in a tax rate of just under $0.61 down from $0.94 per $1,000 in 2019; a reduction of 35.53% for the general budget.
Another $75,000 was taken for the highway budget of $1,042,302, resulting in a tax rate of $2.74 per $1,000 of assessed value, up slightly from $2.71 in 2019; an increase of 0.94% for the highway budget.
The planned spending total is $1,443,364, less estimated revenues of $363,052 and $150,000 from capital reserve, leaving $930,312 to be raised by taxes on the town’s $278,436,633 taxable assessed value by a tax rate of $3.34 per $1,000; down from $3.65 in 2019, an overall reduction of nearly $0.31.
With no comments from the public, the hearing was closed. The resolution to accept the budget was tabled until a special meeting Monday, Oct. 28, after filing with the state, and was passed. Perry expects the town will draw down the Fund Balance further in coming years’ budgets to reduce the excess that had built up in the last decade and mitigate the impact on taxpayers for increasing costs.