Board Of Finance Approves Mill Rate Increase In New Canaan

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Board Of Finance Approves Mill Rate Increase In New Canaan

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Board Of Finance Approves Mill Rate Increase In New Canaan

//business-finance.news-articles.net/content/202 .. e-approves-mill-rate-increase-in-new-canaan.html

Published in Business and Finance on Thursday, June 12th 2025 at 19:40 GMT by Patch
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The Board of Finance has approved a mill rate increase of 3.39 percent for the 2026 fiscal year, town officials announced this week.

The New Canaan Board of Finance has approved a mill rate increase of 1.06 percent, setting the new mill rate at 17.76 for the upcoming fiscal year. This decision was made to fund the town's $147.7 million budget, which includes allocations for education, town operations, debt service, and capital projects. The budget reflects a slight increase from the previous year, driven primarily by rising costs in education and employee benefits. The mill rate hike is expected to generate the necessary revenue to cover these expenses while maintaining the town's financial stability.

Read the Full Patch Article at:
[ https://patch.com/connecticut/newcanaan/board-finance-approves-mill-rate-increase-new-canaan ]

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Board Of Finance Approves Mill Rate Increase In New Canaan