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Posted on: May 31, 2019

Fiscal Year 2020 Adopted Budget

FY2020 ADOPTED Budget image of the Town's seal

As adopted, the budget includes total expenses of $6,504,324 consisting of $6,085,602 in departmental expenditures and $418,722 for debt service. Total reserves are $1,284,484 and a conservative fund operating balance of 28.4%. The adopted budget includes a Real Property Tax Rate of .583 — that is 58.3 cents per $100 of assessed value. After no Town tax increase for the past three years, this is an increase of slightly less than 6.1 Cents per $100 of Assessed Value above the Constant Yield Tax Rate. Since the Town was last assessed in 2017, the Assessable Base in University Park has risen from $ 356,878,843 to $ 415,905,205 without any increase in the Town Real Property Tax Rate.

Fiscal Year 2020 Budget
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