Dear Woodbury Residents,
At Town Meeting in February of this year the voters of Woodbury approved a budget of $1,503,680. Consequently, it is the duty of the The Woodbury Selectboard, with the help and guidance of the Woodbury Town Treasurer, to set a tax rate that will raise those funds. The FY27 tax rate is 0.9719 which is an increase from last year’s tax rate of 0.7860.
The reasons for the increase are many, and have been discussed at Town Meeting as well as at regular Selectboard meetings. However, we think it’s important to communicate the reasons for a larger budget and thus an increased tax rate.
The factors that drove our decision to settle on the established tax rate increase are as follows:
1. In 2024, the town decided to replace the oldest town plow truck. This truck is a crucial piece of equipment and we had anticipated spending $200,000. However, as equipment prices soared over the two years we found ourselves in the position of having to purchase the truck for $299,617.
2. Estimates for the Valley Lake Culvert project came in higher than previous preliminary estimates. Preliminary estimates led the Selectboard to budget $75,000 as the town match to the state grant. Towns pay a percentage of the total cost of the project as their town match to the grant. Higher than expected estimates resulted in a higher town match at $98,000.
3. The 2023 flood resulted in the washout of two town bridges and an award from FEMA to replace the bridges. Estimates for the work came in significantly lower than the FEMA award. The work was completed and guidance for how to deal with the excess funds was sought. FEMA representatives suggested that the town could use the funds for disaster mitigation projects and directed the town toward a list of appropriate projects. Consequently, the Selectboard contracted with a roofing company to replace the roofs on the Town Hall and the Town Office. We also identified a number of compromised and undersized culverts that needed to be replaced. This work was accomplished with the used of the excess FEMA funds. Some months later, FEMA “de-obligated” these excess funds. The town had to repay the funds of which approximately $105,000 had already been spent on the roofing and culvert work.
4. The Town directly benefits from having high-functioning town employees and elected officials. The Selectboard has been aware for some time that most employees were being paid less than their counterparts in other Vermont towns. The Selectboard has sought to increase compensation so as to be competitive with these other towns to attract and retain qualified candidates.
5. The Town of Woodbury saw an increase in insurance cost this year as a result of the 2023 flood claim for damage to the Fire Department building.
The Selectboard is very aware of the difficulties facing Vermonters in the current economic climate. We underwent a line by line review of the 2027 budget, reduced where we could, and made every effort to set a tax rate that will allow the town to function effectively while avoiding a budget shortfall.
Please don’t hesitate to reach out with questions, and thank you for your continued support in making Woodbury a great place to live.
The Woodbury Selectboard