Budget policy statement released

Town officials have released the budget policy statement for fiscal 2014, which begins July 1, 2013. The 16-page document notes that the amount of revenue collected from real and personal property taxes — the primary revenue sources for Massachusetts municipalities — is expected to increase 3.4 percent, from $61.42 million to $63.5 million. The amount of property tax revenue that is anticipated for fiscal 2014 is well below the town’s levy limit, which was $103.6 million in fiscal 2012 (the budget year that ended June 30). Overall, it is anticipated that total revenue for fiscal 2014 — which includes permitting fees, parking fines, motor vehicle excise tax revenue, and state aid to the town — will increase by $1.98 million, or 2.43 percent from fiscal 2013. The goals and objectives of the town’s budget policy are to promote sustainability; create a vision for the Route 125 corridor from Sutton Street to the Haverhill city line; engage the state and stakeholders to address needed improvements along Route 114; improve the viability of businesses in the Main Street district; repair the town’s streets and sidewalks; and implement the facilities master plan adopted by Town Meeting earlier this year. To view the budget policy statement for fiscal 2014, visit the “Forms and Documents” page of the town website at townofnorthandover.com and click on the link to the “FY14 Budget Policy Statement” in the budget information section.

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