‘Higher Than I’d Like’: With Possible 2.7% Tax Increase, BOF Chair Hopes to See Budget Reduced

Predicting a possible 2.7% tax increase across the board based on the FY 2026 budget numbers as they currently stand, the Board of Finance is interested in the feedback of residents to see how that would strike them.

According to BOF Chair Matt Raimondi, at this time the town is looking at a $146,911,579 FY 2026 total budget, which represents a 4.6% increase over the $140,339,906 current budget.

“That is higher than I would like it to be,” he said at the BOF regular meeting on Tuesday, Mar. 11. “I would like to see it lower, and that’s a reflection of the high increase we saw last year.”

Last year there was a 4% increase over the previous year’s $135 million budget, not including $1,130,750 that’s allocated annually for Senior and Other Tax Relief, resulting in a $136.1 million funding requirement.

This year the funding requirement totals $141.5 million with the inclusion of $1.1 million in tax relief, while the proposed total funding requirement for FY’26 is $148 million including the tax relief.

At this time the budget proposal includes a $37,402,033 Board of Selectmen budget, showing a 4.41% increase, and a $96,968,334 Board of Education budget, showing a 4% increase.

The total also includes a $11,086,642 debt service forecast, which represents an 11.1% increase, along with $1,454,570 set aside in Reserves.

Asked for reactions or comments, BOF members were mute.

“I would say, then, having looked at the numbers,” Raimondi said, “I’m appreciative of the work by both boards to get to this point.”

“On the Board of Ed side, they did meet our guidance,” he said, approving a BOE budget that represents exactly a 4% increase over the current one. “That took a lot of work and a lot of sweat, and I’m very appreciative of that.”

“On the Board of Selectmen side there was a lot of analysis that was done as well, and a lot of really good work,” Raimondi said, though the BOS budget represents a 4.4% increase over the current year, which is close to $500,000 higher than the 3% increase recommended by the BOF.

“As I look at that 2.7% high number — I’m speaking only for myself — that is higher than I would like it to be,” Raimondi said, especially juxtaposed last year’s sizable tax increase.

“This year, I think, we can and should do more for our residents in terms of trying to deliver a lower tax increase to the extend that we’re able to,” he said. “I do think we need to support our schools, obviously. We need to support our town, obviously, so we need a budget to reflect that, but I would encourage all of us to take a look at them and maybe there’s some areas where we can sharpen the pencil a bit and deliver more for the taxpayers.”

At the end of the meeting, First Selectman Toni Boucher phoned in for public comment, outlining the challenges the BOS had to face in attempting to keep their increase low.

“There were a couple of things that were not anticipated,” she said, including an increase in state healthcare costs that was double the $200,000 previously expected. There was also a $300,000 loss in the reserve fund that they were counting on to offset next year’s operating costs.

“We did go through four or five different reviews or cuts,” she said.

While Boucher shared that there was potentially some good news coming back from the state this week that might end up lowering the anticipated 13% in healthcare benefit costs, she emphasized that the town’s growth was demanding a larger price tag for its operations.

“It is going to get much more dramatic in the next few years,” she said, citing construction of several apartment projects that will bring many more residents to Wilton. 

Raimondi noted that the town’s population had not specifically grown at this point, pointing out that school enrollment was only going to increase by 13 students next year.

Boucher disputed this, however, calling it “common sense” that Wilton is growing, adding that there were many more daytime workers in town, which she said also impacts the town’s tight resources.

The BOF has released its annual survey, which is available to residents until Friday, Mar. 28 at 5 p.m., at which time it will be removed from the town website.

“I encourage everyone to please take it,” Raimondi said.

The survey asks several questions relating to the budget, including whether or not respondents support the BOS and BOE increases, and whether they would support a mill rate of 24.6, which would result in the 2.7% tax increase.

Last month the town announced that Wilton’s Grand List was up 1.32% from 2024, approximately $75 million.

While the BOS is scheduled to hold a discussion on bonded capital on Tuesday, Mar. 18, on Wednesday, Mar. 19, it is scheduled to take part in a joint public hearing with the BOF at Middlebrook School auditorium.

On Wednesday, Mar. 26, the BOE is scheduled to have a joint public hearing with the BOF at Middlebrook.

BOF budget deliberations are scheduled to begin on Tuesday, Apr. 1.