Question - How large can the Town budget be?
I think the answer is :::
- property taxes (the Levy) cannot be more than 2.5% of the Town Valuation
- property taxes cannot be more than 2.5% higher than previous year absent an override or debt exclusion
- debt cannot be more than 2.5% of Town valuation - bonds cannot be longer than 10 years
- grants, donations, local aid from the State, and receipts can be tacked on
- receipts / fees cannot be more than the expense of providing the service.
Note 1 - building / construction projects must pay fair wage
Note 2 - capital expenditures have to go thru public bidding (in theory)
Note 3 - public salaries are public info - police and fire salaries are subject to binding arbitration
(posted to Damon List - 28 April 2010)