Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Avon reports steady property-tax collections; interest income about $1.15M through Dec. 2025
Summary
Town Manager Tom DiStasio told the Board that property tax and assessments remain strong, interest income totaled roughly $1.15 million through Dec. 2025, and the first installment of open-choice attendance funding was received; he warned a December 25-basis-point rate cut is noted but not alarming.
Tom DiStasio presented the Board with the monthly financial report for the period ending Dec. 31, 2025, saying property tax and assessment collections remain consistent with prior years. "I'll just note that January is a pretty big collection month for supplemental motor vehicle taxes and the second installment of real estate taxes," he told the Board.
DiStasio said interest income through December 2025 was about $1.15 million and noted a 25-basis-point reduction in interest rates in December, which he described as "not overly alarming" as staff factor that into budgeting. He also reported receipt of the first installment of the state's open-choice attendance funding and answered member questions about timing and amounts.
Board members asked for additional line-item detail on interest income and for clarification about the timing of state Education Cost Sharing (ECS) payments, which DiStasio said arrive in three installments (25%, 25%, 50%).
