Branford Sets 29.89 Mill Rate, Up 1.499%
Branford’s new mill rate of 29.89 mills, a tax increase of 1.499% over the current mill rate of 29.45 mills, will take effect with the start of the 2023 – 2024 fiscal year on July 1.
The new mill rate was set by unanimous vote of the Board of Finance (BOF) at its regular meeting May 22. It represents a drop from an anticipated increase to a 29.95 mill rate, equating to 1.7% tax increase, which had been recommended by the BOF to the Representative Town Meeting (RTM) in March.
As previously reported, on the night of the RTM budget vote on May 9, the RTM accepted a last-minute expense reduction to the proposed BOF budget, reducing proposed spending for pensions and contributions, based on current state administrative work underway to help ease municipal contributions to state pension contributions. The reduction approved by the RTM May 9 resulted in the change to the proposed new mill rate.
The $130,315,768 Town of Branford 2023-2024 budget provides $63,483,569 for the Board of Education (BOE) including $62,911,644 for operating expenses and $571,925 for capital and leases; and $66,832,199 for all other Town departments.