Working for Property Tax Relief
and Sound Fiscal Management
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Worked with the Board of Finance and the RTM to pass the first ordinance that provides tax relief to low income elderly and disabled residents, allowing them to defer part of their property tax at a low interest rate. |
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Appeared before the State Legislature following the town center fire to introduce and win passage of laws that allow towns to provide tax relief for businesses suffering catastrophic loss. |
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Attracted substantial new businesses to significantly expand the town’s commercial tax base in an ongoing effort to take more property tax pressure off of homeowners. |
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Refinanced the Town’s bonds to benefit from lower interest rates and improved bond ratings, reducing the cost of borrowing by 40% and successfully combating rising debt service in the face of large necessary projects. |
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Nearly eliminated over $1.4 million dollars of unfunded pension obligation, reducing future tax payments by increasing investment income for future pension payments. |
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Raised the town’s financial ratings on both the Moody’s and Standard and Poor’s systems. Moody’s cited the Town’s solid financial performance, manageable debt level and diversified tax base as reasons for raising the rating. |
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Renegotiated the Quarry lease, increasing the annual rent from $1000 to $20,000, increasing the royalty paid per ton of stone shipped and extending the royalty to cover all stone products, not just dimensional stone; also dedicated the income to acquiring and maintaining Town open space. |
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Helped finance the Sewage Treatment Plant by obtaining a $4 million state grant and low interest state loans. The plant was designed for energy efficiency and high capacity to reduce nitrogen release into Long Island Sound. The Town now receives an average of $90,000 a year for nitrogen credits purchased by towns with older treatment plants. |
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