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Saco voters approve $80.4 million municipal and school budget
Jun. 10—Saco voters approved the proposed $80.4 million combined municipal and school budget during the June 10 municipal election.
The vote was 708 in favor and 209 opposed.
The Saco City Council adopted the municipal and school budget during a meeting on May 12.
The budget represents an increase of $6.8 million, or 9.2%, over the current budget. The tax rate is expected to increase to $14.20 per $1,000 of property value, a 15-cent or 1.1% jump. This means that the annual tax increase for a median single-family residential home valued at $420,000 is $63.
The 15-cent increase is below the rate of inflation and 55 cents lower than the $14.75 property tax rate set in the 2024 fiscal year, according to a release from the city of Saco.
"We are required to adopt a balanced budget," City Administrator John Bohenko said at a meeting.
The primary cost driver of the new budget is costs associated with salaries and benefits to employees, accounting for 72% of the budget.
These increases include adjustments to bring union wages in line with market value, cost of living adjustments for non-union jobs, four new positions, and anticipated increases in benefits costs, such as health insurance premiums.
Increases also include funding for a seacoast resilience project, a Ferry Road culvert replacement, and funding for the Dyer Library and Saco Museum.
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