Kellogg unveils $96.1 million 2022-23 budget for Monroe

MONROE — First Selectman Kenneth Kellogg has proposed a 2022-23 budget that includes a spending increase from $93 million to $96.1 million, a 4.21 percent bump.

About $64.4 million of that total would be allocated to the Board of Education, he told the Town Council on Feb. 14. The rest will go to the various town departments. Kellogg offset some of the spending increase by reducing the appropriations into various reserve and contingency funds by about $743,000 from $1.7 million to about $984,000.

“In preparing this budget, I remained committed to controlling taxes while improving roads and infrastructure, delivering cost-effective services to our community, providing excellence in education, and maintaining the strong financial health of the town that was affirmed by Standard & Poor’s recent upgrade of Monroe’s bond rating to AAA,” Kellogg said in a written statement.

Funding the budget proposal will require a mill rate increase from 36.36 to 37.03, about 1.84 percent. This would cost someone with a home assessed at $300,000 an extra $201 in property taxes.

The town benefited from grand list growth of about $73 million, largely due to a $47.8 million increase in motor vehicle values driven by the jump in used car values, Kellogg said. Residential and commercial real estate values also increased about $23 million.

“While both residential and commercial property growth were robust, we have seen a dramatic increase in the valuation of motor vehicles, consistent across the state and driven by a high demand for used vehicles,” Kellogg wrote. “While it is difficult to predict when that market will stabilize, our grand list must incorporate current market value.”

Monroe is also utilizing American Rescue Plan Revenue Replacement Funds to balance the budget.

The increase is in response to increased cost of supplies and services, a slow down in supply chain, labor shortages, increased fuel costs and contractual obligations, Kellogg said in his presentation.

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