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Candia selectmen debate tapping $2.38M fund balance to lower tax rate; motion amended to $240,000, final vote not recorded
Summary
At a special meeting to set the tax rate, selectmen discussed using part of the $2,378,863 unassigned fund balance to reduce the municipal tax rate. A motion was made and amended to apply $240,000 (reducing the rate to about $12.86 per $1,000), but the transcript does not record a final roll-call vote.
The Candia Board of Selectmen met in a special session to set the tax rate and spent the meeting weighing whether to use part of the town’s unassigned fund balance to lower property taxes.
Speaker 3 opened detailed financial figures, saying, “we have $2,378,863 in the unassigned fund balance,” and presented an initial computed tax rate of about $13.12 per $1,000 of assessed value. Board members and staff members discussed how changes in assessed valuation and the chosen fund-balance target translate into per-thousand rate changes; Speaker 4 explained that roughly $93,331 corresponds to a $0.10 change in the tax rate given the current assessed base.
The central policy at issue is the town’s…
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