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Town administrator reports falling checking rates and outstanding real-estate tax balances
Summary
The Town Administrator reported recent Federal Reserve cuts lowered the town checking-account rate to about 3.10% as of Oct. 31 and provided details on outstanding tax balances, including foreclosure dates for unpaid 2024 and 2025 accounts.
The Town Administrator told the Select Board that recent Federal Reserve rate cuts have reduced the town’s checking account interest rate from 3.6% to 3.35% and then to about 3.10% beginning Oct. 31, and noted that investment accounts may move in the opposite direction as checking rates fall.
The administrator also provided real-estate tax account totals for several fiscal years: 1,042 accounts for FY2026 totaling $2,282,111.50 (first-half taxes due Oct. 1, 2025); 26 FY2025 accounts with $54,469.93 outstanding (unpaid 2025 real estate taxes will be subject to automatic foreclosure on Feb. 12, 2027 if not paid in full); and 11 FY2024 accounts with $26,744.72 outstanding (automatic foreclosure Feb. 20, 2026 if not paid).
