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Charlestown hires Baker Tilly for local income tax impact analysis
Summary
Facing state changes that delay local income tax adoption until 2029, the board approved an engagement letter with Baker Tilly for up to $4,500 to update the city's projections and model scenarios for adopting a municipal versus countywide income tax.
The Charlestown Board of Public Works authorized an engagement with Baker Tilly to update the city's local income tax (LIT) revenue projections after recent state legislative changes.
Staff said the state legislature delayed certain local income tax changes until 2029 and requested joint county-city discussions about a countywide versus municipal-based approach. To understand fiscal impacts for Charlestown, staff requested Baker Tilly perform an updated analysis. "We need to update our financial projections for that LIT analysis...," a staff member said, and the firm submitted an engagement letter for an amount not to exceed $4,500, to be paid from the city's financial services allocation.
The board moved to authorize the firm to start the work and approved the engagement by unanimous voice vote. Staff said the analysis will compare revenue under a municipal LIT and a countywide approach and will inform future discussions with the county and budget planning. No timeline for delivery was given at the meeting beyond standard project coordination with staff.
