If the recommended budget is approved, the average residential property tax bill will increase by $323, according to the Finance Committee.
Read the Finance Committee's Town Meeting report
"The proposed FY2015 budget reflects a significant change voted by the Board of Selectmen," the committee said in a statement. "The budget has historically been based on property tax revenues increasing to the full extent allowed by Proposition 2 1/2, and most of our annual increase in spending occurs within those limits.
"This year the tax increase within Proposition 2 1/2, in addition to the tax increase for the Bancroft School exempt debt, raised concerns among many residents about the resulting increase in taxes.
"In response to this concern, the Board of Selectmen instructed the Town Manager to base his FY2015 budget on an amount approximately $1,000,000 less than a full levy would allow. By doing this, the average residential property tax bill will be approximately $71 less than if we taxed to the full levy limit."