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Select Board flags FEMA buyouts that could reduce town’s grand list and revenue forecast
Summary
Town staff presented a list of properties expected for FEMA buyouts that could shrink the grand list and the board agreed to use a conservative revenue figure ($7,221) in the draft budget pending confirmation of state funding and closing dates.
Chair (S1) reviewed a spreadsheet showing properties expected to close as FEMA buyouts by April 1 and said those buyouts would reduce the town’s grand list; S1 summarized that, "we expect on by April 1... reduced the total grand list of 2023 by 9,556." The chair proposed conservatively modeling $7,221 in revenue for the budget line in recognition of uncertainty around timing and state funding.
Board members discussed whether to assume full state reimbursement and the effect on next year’s tax rate; S1 stressed the projection should be conservative and noted next year’s board may revisit the estimate when final figures and reimbursements are known.
