Politics & Government
Good News: Madison's Budget Surplus May Lead to a Tax Rebate
The First Selectman says he is mulling over a couple of options and both will lead to savings for taxpayers.
MADISON, CT — Madison First Selectman Thomas Banisch has some good news for taxpayers.
In a recent column in the Madison Source, Banisch wrote that because of cost-cutting measures enacted last fiscal year and freezes implemented the town ended up with a $2.7 million budget surplus last year.
The fiscal year ended on June 30. Banisch said he plans to allocate $1 million of the surplus to either offer all taxpayers a rebate on 2016-17 taxes or use the money to pay down the town's debt, which will save taxpayers both now and later.
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