Greenwich budget proposal totals $543.5 million as revaluation boosts grand list

The Board of Estimate and Taxation's Budget Committee reviewed the First Selectman's recommended $543,544,685 operating and capital budget for fiscal year 2026–27, noting a 4.33% increase over the prior year and a submitted mill-rate increase of 6.01%. Finance staff recorded that property taxes account for roughly 90.35% of total revenues and that the town's post-revaluation grand list stands at about $46.2 billion.

Committee members and finance staff highlighted fixed charges as a major driver of the increase. The Fixed Charges account totals approximately $191 million, a 5% rise ($9.18 million) year over year, led by an $8.195 million net increase in healthcare costs. Officials said the final state healthcare rate was expected in the 12–15% range and may not be finalized before the March 3 decision date. The town's contribution to Nathaniel Witherell is budgeted at $2 million, down from $5 million in FY2026; staff were asked to provide a five- to ten-year loss history ahead of the committee’s next review.

Finance staff described revenue adjustments under consideration for decision day, including approximately $2.5 million in identified federal DPW grants, a PILOT adjustment to $1,111,003, and interest income anticipated to rise toward $6 million pending the Investment Advisory Committee's review. The committee noted that the final mill rate will be calculated after the revaluation figures are finalized in May.

The committee recessed for lunch and is scheduled to continue budget deliberations in advance of the March 3 decision date. No formal votes on budget adoption were taken at this session.