Below is a Letter to the Editor from this week's Shelton Herald. If you'd like to have a letter to the editor run next week, email letters to brian.gioiele@hearstmediact.com
Contributed photoTo the Editor:
With the passing of Shelton Board of Education’s recent proposed budget many citizens' first reaction was “I don’t want my taxes to go up.” That is a genuine concern during budget season but let’s take a look at our City finances and see if that really needs to happen.
At the Board of Alderman meeting on Feb. 9, 2023, it was revealed that the general fund, which is essentially the City’s rainy day fund, has reached $10.7 million total. That sum is very close to the high of $12 million after being nearly depleted pre-pandemic. The recent residential developments of 502 on Howe, Bridge Street Commons I and II, Cedar Village at Carroll's, and Merion Riverwalk generate nearly $1.3 million annually in tax revenue. An article in the Shelton Herald on Dec. 23, 2022, titled “11 Shelton developments to watch out for in 2023,” identifies 11 new construction projects that will bring more tax revenue on top of the Fountain Square development on Bridgeport Avenue.
In the Herald article Jan. 19, 2023, “Shelton expects big financial reward as Constitution Blvd. extension gets underway” we learned from Mayor Lauretti that “The initial benefit is the sale of the land,” said Lauretti looking over the work site Tuesday. “We paid $600,000 (in 1996) for the land, and it is probably going to bring in $6 million. The more important thing is the tax revenue this will bring in for the next 40 years," he said. "That's key. It is like an annuity.” Rep. Jason Perillo went on to say “This access road is the first step toward hundreds of millions in grand list growth, which helps control taxes.”
Given the current state of the general fund and the tax revenue from recent and future developments, the City should be able to meet the educational budget needs as well as keep taxes low for our citizens. It is time for our City government to support our educational system and invest in one of the most important responsibilities any city or town has — educating our kids.
Diana Meyer
Diana Meyer is a Board of Education member but wrote this letter as a private citizen.