New Canaan Selectmen Approve $186.9M Budget For FY 2026-2027: Town

NEW CANAAN, CT — The Board of Selectmen approved late last week a total expenditure budget of $186.9 million for fiscal year 2026-27, representing an increase of 3.3 percent over the fiscal year 2025-26 budget, town officials announced.

According to a news release provided by the town, the selectmen's budget recommendation will next go to the Board of Finance for review this month.

A Board of Finance budget recommendation will then go to the Town Council on March 12, who may accept, reduce or reject the finance board's budget recommendation during a budget meeting vote scheduled for April 14, according to the town.

The total expenditure budget includes town department operations expenses of $35.3 million, up 2.0 precent, Board of Education operating expenses of $118.3 million, up 3.9 percent, debt service of $18.2 million and tax-supported capital projects of $1.4 million, according to the town.

"The fiscal year 2026-2027 total expenditure budget approved Thursday, Jan. 29, for the Board of Finance to consider represents a 3.3 percent increase over the current year's expense budget," First Selectman Dionna Carlson said in a news release. "This budget does not consider projected revenue that we will have greater visibility into during the Board of Finance and Town Council reviews."

Carlson noted the Board of Selectmen's approved budget reflects "a commitment to holding the line on spending while maintaining services for town residents and continuously seeking improvements and efficiencies."

"While we have a strong start to the budget," Carlson said, "reduced revenue from financial instruments is increasing the amount to be raised by taxation to 5.3 percent and a year-over-year mill rate increase of 6 percent. As we gain more insight into the current year revenue and expenses during the coming months, I remain optimistic that we will find additional opportunities to reduce the FY 2026-2027 budget before it becomes final in April."

Carlson also noted the town assessor has reported the town's 2025 Grand List increased by 0.8 percent to $10.022 billion from the 2024 Grand List of $9.941 billion.