Staff report
NEWPORT — The projected tax increases needed to support the $18.6 million 2018-19 Newport School budget will be aired Tuesday’s starting at 6 p.m. in the high school gymnasium.
Preliminary estimates have the local tax rate increasing $3.89 per $1,000 to support the operating budget increase for the next fiscal year that starts on July 1.
After that proposed budget is finalized at the Deliberative Session on Tuesday, it will make its final stop at the voting session from 8 a.m. to 7 p.m. March 13 in the Newport Opera House.
The final chapter will occur when tax bills are mailed out.
Should the operating budget of $18,641,564 fail to pass, the default budget estimated to increase the local tax rate by $2.58 per $1,000 would kick in.
Anticipated revenues are down $748,850 and that amount is included in the additional $1,113,950 needed from local taxes.
Any individual warrant articles that pass will increase the tax rate further.
Article 4, a one-year agreement for teacher pay raises, will require an additional $140,3812 and a support staff agreement, also for one year, requests an additional $92,311.
Article 13 requests up to $50,000 to deposit to the Unanticipated Educational Service Expendable Trust fund and Article 14 requests up to $50,000 to deposit to the Transportation Capital Reserve Fund to provide for the future purchases of buses.
If those four articles all win voter approval, both the operating budget and default budget will increase by another $1.30 bring the total tax increase numbers to $5.19 per $1,000 to the operating budget and $3.88 for the default budget.
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