Tax Increase Budget Proposed In Stratford Budget

STRATFORD, CT — Stratford Mayor Laura R. Hoydick has proposed a $254.27 million budget for fiscal year 2024 that represents a 1.87 percent tax rate increase.

The proposed budget carries a .74 increase from the previous year’s mill rate, bringing it to 40.20, according to Hoydick.

Hoydick presented the proposed budget to the Town Council on March 10.

“My proposed budget balances the realities of our town’s finances and the current economic climate that all of us are feeling right now, with rising costs from the grocery store to our gas bills,” Hoydick said in a news release. “In preparing the budget and across the town’s services and departments daily, the administration continues to take measures to minimize the impact of inflationary effects, with employee benefits, insurance, and the price of gas, diesel, heating oil, propane, electricity, and water all having risen considerably. After five years of tax reductions, we made the cautionary decision with this budget to address financial obligations. As with our town’s previous budgets, this budget is not only an investment in our current priorities, but our continued commitment to the future of Stratford.

“When I first ran for mayor, there was an incredible need for tax relief for our residents. I have taken this obligation to our taxpayers as priority, reducing taxes with every budget for the last five years. We are public servants; it is of utmost importance to my administration that we provide the greatest resources and services to the Town of Stratford, and that everything we do is in the best interest of the town.”

Hoydick noted that without knowing at this point exactly how much funding the town will receive in Gov. Ned Lamont’s proposed state budget, it was best to keep the tax rate increase to a “minimum” at 1.87 percent.

“Given the current economic climate that we are all facing, this is the most strategic way to move Stratford forward,” Hoydick said. “We live in a wonderful community, with a bright future, and we are addressing our financial responsibilities and the inflationary impacts without overburdening the people of Stratford. My administration continues to find ways to be more efficient across departments, to be incredibly proactive at seeking out grants to fund projects to improve our town’s infrastructure and natural resources, and to serve our community as best as possible.”

The proposed budget includes a 3.09 percent increase for the Board of Education, an additional $3.71 million, including $1.7 million from the taxpayers and more than $2 million from the Alliance fund, a total of $126,998,330, according Hoydick.

“This covers all of their increased contractual obligations while providing additional funding to support public education,” Hoydick said.

Hoydick is looking forward to having more insight into Lamont’s proposed state budget over the next few months, and hopes it will include state funding that will allow the Town Council to “amend the budget with a tax reduction.”

“Right now we have to lean into the cautious approach rather than banking on assumptions,” Hoydick said. “I am grateful to serve our town every day and to continue to work in collaboration with town leaders and the residents of our great town.”

To read the full proposed budget, visit here.