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REDDING BOARD OF FINANCE
MEETING
March 6, 2008
Filed subject to approval
Present: Alvarez (Chairman), Kearney, Simeonidis, Viscio, DeSalvo, Dolan
Mr. Alvarez called the March 6, 2008 meeting of the Board of Finance to order at 8:20 pm
DISCUSSION WITH ASSESSOR ON THE 10/1/2007 REVALUATION AND GRAND LIST.
Assessor John Ford reported the increase in Personal Property was 160%, with a large portion of that due to the CL&P power line improvements. The increase in Motor Vehicle was 1.64%. Real Estate increased 28 ½%. The overall net increase to the grand list is 28 ½%. The average assessment for a single family dwelling is $528,085.
DISCUSSION ON THE 2008-2009 BUDGET
Mr. Dolan asked for clarification of the estimates of revenue for the Building Department, the Town Clerk’s office and Zoning Department. Board members stressed the importance of having the best estimates of revenue and the assumptions made in arriving at those estimates. Mr. Hutvagner will follow up on this request.
A Board of Finance meeting was scheduled for March 17, 2008 to review the revenue estimates and finalize the budget.
ADJOURNMENT
Motion: move to adjourn. Kearney, Simeonidis. Approved. Unanimous.
The meeting was adjourned at 9:15 pm
Respectfully submitted,
Mary Maday, Recording Secretary
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