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Cheshire manager proposes $157.5 million operating budget; Stonebridge TIF will divert most new taxes to repay developer obligations
Summary
Town Manager Sean Kimball presented a $157.489 million fiscal 2026–27 operating budget that would raise the mill rate to 32.4 mills (a 2.66‑mill increase) and rely on $2 million of fund equity; Kimball said 75% of new taxes on the Stonebridge Crossing TIF parcels will be diverted to repay a $7.0 million credit‑enhancement agreement.
Town Manager Sean Kimball presented the Town of Cheshire’s proposed fiscal 2026–27 operating budget and projected a 32.4 mill rate at a public hearing March 11. "Tonight, I'm presenting the fiscal 27 town manager proposed, operating budget," Kimball told a packed council chamber as he outlined revenues, expenditures and calendar deadlines.
Kimball said the proposed operating budget totals $157,489,000, with the board of education request and rising debt service as the largest drivers. He described three revenue pressures: a projected $200,000 reduction in building‑department revenue, a fall in investment income of roughly $2.0 million because of lower interest rates and slower state reimbursement timing, and continued…
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