EAST HAVEN, Conn. (WTNH) — East Haven Mayor Joseph Maturo Jr. is recommending a half-mill tax decrease for the 2015-2016 budget; following strong news of a budget surplus and debt reduction in town.
Maturo’s office released the announcement Monday morning. In the release, Maturo said he was recommending the tax reduction after steps were taken to reduce debt in the town, on top of a third year budget surplus.
“The 2013-2014 fiscal year audit, which we expect to to be officially released to the Town in the next two weeks, will show another impressive surplus, along with another multi-million dollar reduction in our Town’s debt,” Maturo said. “Based on this encouraging news, and with the budget formation process already underway, I am recommending a half-mill tax reduction to the Finance Director for the upcoming fiscal year.”
In announcing the tax reduction, Maturo was careful to clarify that the tax reduction will not cause a reduction in town services.
Maturo concluded, “I am proud that our efforts since 2011 will allow us to simultaneously reduce taxes and make meaningful capital and infrastructure improvements across Town. We still have significant work ahead of us. However, I am confident that, because of our efforts, we can anticipate a stable, bright future for our community.”