By Stephen Janis
As the annual budget process gets underway in Greenwich, it seems likely the town will face an increase in the property tax rate. The only question is how much.
In part, that will be determined by guidelines recently adopted by the Board of Estimate and Taxation (BET).
Last week the volunteer board elected to manage town spending issued a range of projections for town departments to help determine next year’s 2026 spending plan. The recently adopted fiscal outline projects a roughly 4 percent increase in the town’s property tax.
“What the BET does every year is that the budget committee puts together guidelines that go to all the departments, which sets out the objective for the budget and gives them guidance in setting their budgets,” BET Chair Harry Fisher told The Sentinel.
“Our guidelines are targeting a tax rate increase to just under 4 percent. The Democrats’ plan is targeting an increase as high as 5.5%.”
The Sentinel emailed multiple Democratic members of the board to confirm the proposed increase. BET board member Leslie Moriarty responded that Democrats did not endorse the higher rate.
“In the past two years, the Republicans on the BET have tried to change the guidelines to be a budget and mill rate cap; however, the Democrats do not believe that drives an effective budget process, which highlights challenges, tradeoffs, and long-term impacts,” said Moriarty.
“The Democrats did not propose a 5.5% mill rate increase. The Democrats highlighted financial concerns that need to be understood and addressed over the next five months.”
Moriarty also said that any proposal to raise the tax rate must take into account the growing capital expenditures for the town.
“The Democrats are concerned that the Republican-led BET continues to be short-term focused when there are longer-term challenges that require attention and planning,” she added. “This is an abdication of our Board’s responsibility.”
However, Fisher countered that the Democrats had indeed proposed the higher rate, offering a spreadsheet as proof.
“The Dems definitely put forth a proposal prior to our Monday, October 21, BET Budget Committee meeting that proposed a 5.45% increase,” Fisher said.
Whatever the board decides, fiscal challenges mean some increase is inevitable.
The current guidelines offered by Republican members were adopted at a special meeting of the budget committee, Fisher said. The measure was approved after Fisher cast the tie-breaking vote.
The increase in taxes would raise the town’s mill rate (the amount of tax levied on every one thousand dollars of property value), would rise from 11.712 to 12.175, roughly a 3.9 percent increase. The tax rate would net the town $446,065,000 in revenue.
Total expenditures in fiscal year 2026, including grant-funded programs, are expected to total $520,271,963.
The report said the tax increase was necessary to respond to a challenging fiscal environment. Rising capital outlays and increased operating costs related to employee expenses required an increase in revenues.
“Challenges confronted in the FY24 and FY25 budgets are expected to continue in the FY26 budget,” the report states, “including escalating operating costs, increasing capital costs, and moderating revenue.”
The plan also calls for establishing a special revenue fund to support boat storage to pay for related capital spending.
The board says it will scrutinize capital spending, noting that $315 million for 371 planned projects are responsible in part for the need to increase revenue.
Of that amount, $203 million has been allocated for refurbishing or, in the case of Central Middle School, completely rebuilding schools.
The report notes that roughly three-quarters of the town’s expenses are related to salaries and benefits, which includes approximately $94 million in benefits costs, including pensions.
The formal budget process begins in January with presentations from the Board of Selectmen and the BET. This includes a series of public meetings in March to vet the non-school spending and school spending, respectively.
The BOS submits the final operating plan and capital expenditure plan. The Board of Education submits the school spending plan, which must be approved by the BOE and eventually the Representative Town Meeting.
However, Fisher has concerns about political tensions on the board.
The meeting to adopt the guidelines was contentious, Fisher noted. The evenly split board had to reconcile competing proposals from Democratic members. He said the Democrats offered six amendments that were not presented to their Republican counterparts until the board convened.
Fisher said he hoped the plan with the lower tax increase would eventually be approved.
“We are just trying to toe the line.”
Budget Approval Schedule – Fiscal Year 2026
01/28/25: FIRST SELECTMAN BUDGET PRESENTATION BOE BUDGET PRESENTATION BUDGET COMMITTEE PUBLIC HEARING
02/04/25: BUDGET MTG – DAY 1 – FIRST SELECTMAN
02/06/25: BUDGET MTG – DAY 2 – BOE OPERATING AND CAPITAL
02/11/25: BUDGET MTG – DAY 3
02/13/25: BUDGET MTG – DAY 4
02/19/25: BUDGET MTG – DAY 5
02/20/25: BUDGET MTG – DAY 6
02/25/25: CONSOLIDATION DAY
03/04/25: BUDGET COMMITTEE DECISION DAY
03/05/25: BUDGET DECISION DAY 2 (if needed)
03/07/25: PUBLIC HEARING NOTICE DEADLINE
03/26/25: BET PUBLIC HEARING – SCHOOLS
03/27/25: BET PUBLIC HEARING – TOG NON-SCHOOLS 04/01/25: BET DECISION DAY 1
04/03/25: BET DECISION DAY 2 (if needed)
Note: Meetings can be accessed on Greenwich Community Television Channels 24 (Verizon), 79 (Optimum), and the GCTV Live Stream on GCTV YouTube.
