Budget Committee adopts $1.52 million FY27 municipal budget; tax rate set at $0.6420

The Town of Montgomery Budget Committee voted Jan. 20 to adopt the proposed FY27 municipal budget of $1,515,240. Budget Committee member Tosca Smith moved to adopt the budget; Leanne Barnard seconded and the motion passed 4-0.

Committee documents and the meeting discussion state that $1,072,946.42 of the total will need to be raised by property taxes, yielding a projected tax rate of $0.6420 — an increase from FY26 of $0.372. The committee recorded the motion and vote during a final review of the draft FY27 budget.

Members discussed revenue pressures during the review, including an approximately $2.2 million reduction in the town Grand List after the State reappraised two utilities and reduced each utility's assessment by roughly 50%, a factor noted as affecting revenue calculations. The committee also reviewed Reserve Fund allocations tied to capital needs while finalizing the spending plan.

Tosca Smith made the adoption motion and Leanne Barnard seconded; no members voted against the budget. The committee recorded the vote as approved 4-0. The meeting minutes note the committee adjourned later the same day at 5:39 p.m.

The committee's adoption of the FY27 budget sets the town's spending plan and the projected property tax obligation; additional procedural steps required to finalize the tax rate (billing, warning, or town meeting votes beyond this record) are not specified in the minutes.