Tax Cap Discussion

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Tax Cap Discussion Bob Mulcahy Cocheco
Equipment, Inc. Monday September 15, 2008
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The Magic Bullet?

• A tax cap or spending controls?
• How do we control spending at home?

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What are Rochesters assets

• People
• Land and Location
• Infrastructure
• Downtown
• Arts and Culture
• Quality and Quantity of housing Choices
• Low Crime Rate
• Excellent Schools
• People

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How does Rochester Compare?

• We chose Rochester
• Resident, taxpayer and business owners
• Rochester vs. previous town

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Franklin Vs. Tilton

• Bordering Communities
• Per capita income Tilton
• Median 4 person income Tilton
• Median household income Tilton
• Least families below poverty level Tilton
• Equalized tax rate Tilton
• Why?

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Tax Cap, Spending controls or growth?

• Are we going about this correctly?

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The perfect storm

• Skyhaven
• Economic development
• Managers proposed budget

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Where is the problem?

• A solution in search of a problem?

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Where is the money spent?

• City
• Schools
• County

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Mistakes that could be made under a tax cap

• Defer maintenance
• Reduce reserves unnecessarily
• Cover operating expenses using bonds
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• An INCREASE in spending under a tax cap??
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• Our current system works well

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Thank you! Bob Mulcahy Cocheco Equipment,
Inc. Monday September 15, 2008