Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget And Taxation topic
No spam. Unsubscribe anytime.
Winchester manager files FY25-26 budget; board approves moving motor-vehicle assessments to 90% after TMA audit review
Summary
Town manager submitted the proposed fiscal year 2025–26 budget and said an addendum was forthcoming; the board voted to change the motor-vehicle assessment schedule from 85% to 90% following recent state legislation and the town terminated its contract with Tax Management Associates (TMA) after limited audit findings.
The town manager told the Board of Selectmen on March 17 that the proposed fiscal year 2025–26 budget has been submitted to the board and that an addendum correcting capital-item scheduling would be circulated soon. The manager said the budget materials follow Government Finance Officers Association (GFOA) standards and noted outreach steps for public review and open-session budget discussions.
On the personal-property audit carried out under contract with Tax Management Associates (TMA), the manager reported mixed results and said the town had terminated the agreement after TMA did not deliver what the town expected for year one. The manager said the engagement generated approximately $60,000 in identified revenue against an expected $300,000 projection and that the town will instead budget $10,000 for more targeted audits in the next fiscal year. The manager said termination followed an evaluation that the town's tax base produced fewer recoverable items than the firm’s model anticipated.
Selectmen voted unanimously to change the motor-vehicle assessment schedule from 85% to 90% to align with recent state legislative action (cited in the meeting as HB 6067) and to report that decision to the Office of Policy and Management (OPM). The manager said raising the assessment rate to 90% would increase the grand-list value for motor vehicles to about $92,349,220 and, holding the collection rate constant at 92.5%, would generate an estimated additional realized revenue of $239,258. Board members emphasized the change is a restoration of previously higher assessment levels rather than a new tax increase.
The manager also reported that motor-vehicle supplemental bills that hit the street totaled nearly $400,000 this year and that personal-property audit shortfalls may be offset in part by those supplemental collections.
Ending: The board accepted the manager’s budget submittal, asked for a forthcoming addendum to capital schedules, and approved the assessment-rate change; no formal budget adoption occurred at the meeting.
