It would not be a contest if both sides didn’t strive to win. In Greenwich the Board of Estimate and Taxation (BET) is Chaired by the party with the most votes in the general election. In a divided vote, the Chairperson casts the tie-breaking vote, allowing for contentious issues to be resolved. And for the past century, the Republicans have held the chair position 98 out of the last 100 years. We understand how badly the Democrats want to take control of the BET, but we know how unfavorable this result would be for the Greenwich taxpayers.
Republicans control the BET because the majority of taxpayers believe a Republican led BET prioritizes low property taxes (Mill Rate) while maintaining a high level of services. Republicans optimize our Town’s financial position and capital funding power by not taking on excessive debt and by not burdening future generations when we do not have to. The wisdom of our stewardship is reflected in the Town’s triple-A credit rating. Our stewardship has positioned the Town to take advantage of declining interest rates and thereby lower the debt service burden on the Town.
• On our watch, Greenwich maintains a preeminent AAA bond rating which allows us to issue debt at the most favorable rates. AAA-rated municipal and corporate rated bonds are rare and coveted, particularly by retail investors. Under our watch, a Republican led BET will retain Greenwich’s stellar AAA credit rating.
• Our residents enjoy low taxes, the lowest Mill Rate in Fairfield County while providing top-notch services and facilities. Our neighboring towns of Stamford, New Canaan and Darien have published Mill Rates over 25% more than Greenwich. Republicans are committed to maintaining the “lowest” Mill Rate possible.
• Looking forward, our Town’s prudent capital funding plan structure is perfectly aligned to take advantage of falling interest rates and decreasing inflation. Predications for interest rates a year from now are below current rates with declining inflation supporting the possibility of cost mitigation for current and future capital projects.
• The Town borrows to meet project cash flow needs, which extends many of the Town’s larger project borrowings over a longer period, but results in an envied low financing cost and lower debt service for projects.
• Our diligent practice of fact-based assessment for projects underscores another enduring value of Republican BET management. While rigorous analysis of capital projects is essential, our capital funding process is designed to be flexible and nimble. This balance is the best of both worlds.
• BET Republicans deliver consistent fiscal success and look forward – not backwards – in managing the Town’s longer term capital planning and resource management.
• Our successful track record and wise debt strategy validate us as the best stewards of our Town’s financial resources and underpin our commitment to keep Greenwich affordable and thriving.
For these reasons, we urge you to continue Republican leadership of the BET and vote for all 6 Republicans on “ROW B”.
Sally Bednar, Josh Brown, Harry Fisher, Joe Kelly, Joe Pellegrino and Leslie Tarkington
