Canterbury residents weigh 2.9% tax increase

Canterbury resident Doug Taylor leaves town hall after voting Tuesday.

Canterbury resident Doug Taylor leaves town hall after voting Tuesday.

By CATHERINE McLAUGHLIN

Monitor staff

Published: 02-07-2024 5:29 PM

Canterbury residents will consider a 2.9% increase to the town’s operating budget this year, which, in addition to warrant articles for new equipment and a firetruck bond, would increase the tax rate by $1.04,  or about $312 a year for a home worth $300,000.

Wage increases and the addition of one town position are part of what’s behind the $94,224 rise, bringing the proposed operating budget up to about $3.3 million. It joins more than $900,000 in capital expenses – largely for a new grader and backhoe and a cemetery expansion – on the warrant, some of which will be covered by capital reserve funds.

Last year, residents approved the purchase of a new fire truck. When a hoped-for grant did not materialize at the end of last year, the town had to bond for $490,000 of the price tag. Voters approved the purchase with or without the grant, according to town administrator Ken Folsom.

Canterbury paid off one major bond last year, is scheduled to finish another this year and a third next year, Folsom said. Given that the school district’s part of the tax rate is expected to rise, the more modest increase from the town is good news. Overall, he continued, the town’s current and upcoming financial situation is “in good shape.”

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