Revenue Task Force reviews FY 2024 growth projections
Revenue Task Force reviews FY 2024 property tax and new growth projections amid market volatility. Chair Tim Vaill and task force members Tom Hartwell, Kevin Connors, and Janie Moffitt examined the town's new growth assumption of $1.9 million for FY 2024, with Assistant Town Manager Patrick Lawlor
Revenue and Expenditure Task Force · Meeting of July 21, 2022
ANDOVER — Revenue Task Force reviews FY 2024 property tax and new growth projections amid market volatility. Chair Tim Vaill and task force members Tom Hartwell, Kevin Connors, and Janie Moffitt examined the town's new growth assumption of $1.9 million for FY 2024, with Assistant Town Manager Patrick Lawlor presenting data showing new growth fell short in 2022 following pandemic disruptions and the Columbia Gas incident. The task force discussed potential downward adjustments to $1.75 million for FY 2024 and $1.5 million for FY 2025.
Director of Planning and Land Use Paul Materazzo presented major development projects including VICOR expansion, 305 Main Street housing, and former Phillips medical campus redevelopment that could influence projections.
In the full story:
- The complete report — 237 words
Source: the Revenue and Expenditure Task Force meeting of July 21, 2022, compiled from the official minutes.
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