What it means: The petitioner is requesting that the Town add the terminology “No New Tax Impact for the current year”. The rationale is that it would make it clear that the project is not “free” but is coming from previously accumulated funds, such that no new taxes are required.
Those in favor say: There should be, for transparency purposes, additional language to Warrant Articles that draw upon the Unassigned Fund Balance for the funding of the Article, to clarify that the spending is actually using funds, in part, that were already taxed and collected.
Those opposed say: The Warrant already shows the requested language (no new taxes for (year). This addition is not necessary. Further, the voters should understand that it is not just tax monies collected and not used that makes up the Unassigned Fund Balance. It is also funds received from invested Trusts; grant money received, good fiscal management, etc.
Fiscal impact: No direct tax impact.