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Section 5 council approves $700 real-estate tax credit for 227 households and LaFerme restaurant
Summary
The council voted unanimously to grant a $700 real-estate tax credit to each of the Section 5's 227 households and to LaFerme restaurant for FY2025; the Town Manager said final June state income tax receipts are expected to be at least $120,000 and the Council will notify residents of the credit.
During the June 10 meeting Rachel DeLong presented the FY2025 financial report and said the final June State income tax payment is expected to be at least $120,000.
Chair Greg Chernack moved that Section 5's Council provide a $700 real-estate tax credit for each of the 227 households plus LaFerme restaurant for FY2025. The motion was seconded and passed unanimously. The Town Manager will notify residents of the Council vote.
Why it matters: The credit is a one-time FY2025 rebate to every household in Section 5 and one local business. Residents requested a detailed P&L; the Town Manager said QuickBooks is used but the specific P&L requested is not a standard report and Budget Notes are posted on the website for line-item detail.
What's next: The Town Manager will notify residents and finalize accounting entries once final state payments are confirmed.
