OLD LYME–The Region 18 Board of Education on Monday evening unanimously sent the proposed $39.7 million 2025-26 budget to referendum unchanged despite calls from several residents to take money out of its reserve funds to reduce the impact on taxpayers going forward. The referendum will be held Tuesday from noon to 8 p.m. Old Lyme residents and qualified taxpayers will … [Read more...] about Lyme-Old Lyme Schools’ Board Sends Unchanged Budget Proposal to Tuesday Referendum
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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