Despite Increase in D18 Spending, Budget Down Over $1M Primarily due to Reduction in Capital Costs LYME – The Board of Finance is predicting a flat tax rate after they unanimously approved a proposed $11.37 million 2025-26 spending plan that will go to a public hearing next month. The budget proposal is down $1.02 million, or 8.2%, from the current … [Read more...] about Lyme Board of Finance Proposes $11.37 Million Budget With No Tax Increase
rainy day fund
After Much Disagreement, Old Lyme Board of Finance Decides to Take $800K From ‘Rainy Day Fund’ to Offset Tax Increase
OLD LYME – With many residents concerned by the recent revaluation that hiked the value of taxable property in town by more than 60%, the Old Lyme Board of Finance on Wednesday evening agreed to use $800,000 from the town’s 'Rainy Day Fund' to help mitigate the impact to taxpayers of a proposed $45.39 million 2025-26 spending plan. The proposed budget – which includes … [Read more...] about After Much Disagreement, Old Lyme Board of Finance Decides to Take $800K From ‘Rainy Day Fund’ to Offset Tax Increase