2019.10.16 Council Agenda Item 9
Summary
Order to approve a supplemental appropriation from unassigned fund balance in the amount of $10,000 to fund senior tax relief awards above the $50,000 set aside in the FY20 Budget.
A public comment period will be included with this item (3 minutes per person).
ACTION: Council action is anticipated.
Description
The Council approved a Senior Tax Assistance Program as part of the FY19 and FY20 Budget processes. The FY19 program was budgeted at $75K and was available to all residents over the age of 62 with annual income less than $30,000. Actual spending on the program for FY19 was $20,501.
The FY20 Budget for Senior Tax Assistance is $50K. Staff presented an overview of the FY19 program including eligibility requirements, award calculation, and the communication plan at the July 22, 2019, Town Council meeting. That presentation reviewed the results of the FY19 program and offered an analysis of various income threshold amounts for consideration. The Town Council increase the eligibility regarding income limits from $30,000 to $40,000 at a meeting earlier this summer.
The Town Council suggested staff bring forward a request to consider additional funding if the current funding levels are not sufficient to cover all applicants deemed eligible. As of October 10, 2019, 68 residents have been deemed eligible.This is an increase from 29 eligible residents in 2018. It is possible that we will not have enough funding and will need to prorate benefits.The deadline for submitting applications is October 16. We will have a final tally by meeting time for the October 16 Council meeting. This supplemental appropriation may not be necessary as the predicted final numbers are very close to $50,000. Applicants have expressed concern that money be dispursed before Nov 1 so that they can apply the relief to their tax bills. This is the primary reason for placing this request on the October 16 agenda rather than wait for the October 28 agenda which will result in disbursments after November 1.
