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Portsmouth adopts $79.2 million FY2027 budget; tax levy stays under 4% cap
Summary
The Portsmouth Town Council unanimously adopted a $79,166,565 fiscal year 2027 budget and approved the accompanying tax levy ordinance; council recorded a modest tax levy increase under the 4% statutory cap.
Portsmouth — The Portsmouth Town Council on June 22 adopted the townbudget for fiscal year 2027, approving total expenditures of $79,166,565 and passing the levy ordinance that sets the towntax collection schedule and maximum levy consistent with state law.
Town staff summarized changes since provisional approval in April and told the council that the general fund expenditure total is $79,166,565, representing a 2.69% increase over the prior year. The council noted revisions including a $25,571 school foundation civic support allocation and a $25,000 town contingency. Council members also discussed the tax levy increase figure cited in the staff report and confirmed the adopted levy does not exceed the statutory 4% cap.
The town clerk read ordinance 2026‑06‑22, which sets assessment dates and an installment payment schedule (25% installments due in September, December, March and June, with a seven‑business‑day grace period). The ordinance also lays out penalty provisions for unpaid balances and authorizes the treasurer to issue tax anticipation notes within statutory limits.
Council approved final budget adoption and the levy ordinance by unanimous vote. Staff said the tax clerk/town clerk will certify assessments and the town will proceed with the installment billing schedule announced at the meeting.
What happens next: The town tax collector will issue bills under the adopted schedule. Council asked finance staff to continue monthly monitoring as the audit is completed and to report year‑end surplus estimates.
