FOR IMMEDIATE RELEASE
May 3, 2012
Contact: Mike Kanarick
802.735.7962
Mayor Miro Weinberger Announces No Property Tax Increase Needed to Balance Budget for FY2013
Burlington, VT – Mayor Miro Weinberger today announced that he will not seek a property tax increase to balance the FY2013 budget. As an alternative to a tax increase, Weinberger presented a combination of increased revenue forecasts (including gross receipts taxes) and spending reductions (including departmental cost-cutting) that closes the prior Administration’s $1.2 million budget gap.
“During the campaign, I committed to working hard to avoid a property tax increase for the FY2013 budget,” said Weinberger. “In the 30 days since taking office, I have been focused on the imperative that we must not balance the budget at the expense of our community members, whose incomes have been flat since the beginning of the 2008 recession. While we have balanced the FY2013 budget, there is much more work to do in the months and years ahead to address Burlington’s long-term financial challenges and restore the City’s credit ratings.”
As mayor, Weinberger is charged by the City Charter with presenting to the City Council a balanced budget with sufficient time for the Council to consider and vote on the budget, with budget passage occurring no later than June 30, 2012.
Please see the following attached documents:
- Summary of Budget Projections leading to Balanced FY2013 Budget
- Budget Projections Detail Letter from interim CAO Paul Sisson
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