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Board approves transfer of $60,860.29 in delinquent property taxes to suspense
Summary
The Board of Finance approved moving $60,860.29 in delinquent property tax receivables from the 2021 grand list to suspense, noting the amounts remain collectible for 15 years and that the transfer is an annual state-required accounting action.
The Madison Board of Finance voted on Feb. 19 to transfer delinquent property tax receivables totaling $60,860.29 (Grand List 2021) to suspense, an annual state-required accounting procedure that removes certain receivables from active tax-collector listings while preserving collection rights for up to 15 years.
The chair said the tax collector recommended the move and noted the transfer does not make the receivables uncollectible; rather it moves them to suspense accounting per state rules. A backup document in the meeting materials showed the $60,860.29 figure. A motion was made and seconded and the board carried the motion with no recorded opposition in the meeting transcript.
Members observed this is an annual housekeeping action required by state practice; no additional policy changes were proposed.
