Fall River Mayor Paul Coogan has submitted a balanced $374.9 million dollar budget to fund city expenses for the fiscal year that begins July 1.
The spending plan is $24.5 million higher than FY 2022, a seven percent increase. Most of that increase, over $18 million, is a result of increased state aid to the Fall River Public Schools.
Taxpayers can expect an increase of 2.5%, the maximum increase under state law. They will also begin to be assessed extra as part of the debt exclusion approved by voters in 2018 for the construction of the new B.M.C. Durfee High School. An extra $2.25 million will be collected next year for the project.
“The B.M.C. Durfee High School debt exclusion approved by voters will be phased in starting in Fiscal 2023 utilizing ARPA (American Rescue Plan Act) funds to help alleviate the burden to the taxpayers of Fall River,” said Mayor Paul Coogan in his budget message to the city council. “The ARPA funds provided are allowing the City to invest in our community while not burdening the taxpayers. With utilization of these funds and investing in long-term capital will also provide years of relief to the operating budget.”
Under the provisions of the city charter, the city council will have 45 days to review the budget and either approve, reject, or reduce the plan.
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