Board of Selectmen

Virginia McIntyre, Chair
Anne D. Shapiro
Philip H. Benincasa
Margaret B. Briggs
Gregory P Howes

Town Finances

Upon recommendation of the Board of Assessors, the Board set a uniform tax rate of $10.56 per $1000, and decided not to adopt the Residential Exemption or Small Business Exemption. The Board will consult with the new Concord Economic Council on the advisability of adopting the latter exemption in future years.

The Town maintains a strong fiscal footing. The annual report of the Town auditors emphasized the Town's consistently sound management practices. Moody's, the bond rating agency, reaffirmed the Town's bond rating at its highest level, Aaa. Concord is one of only thirteen communities in Massachusetts and of less than one hundred nationwide to enjoy this measure of creditworthiness. Again, as a result of this outstanding rating, the Town was able to sell bonds and notes at exceptionally low interest rates in 2006 to finance the local share of construction of the new Thoreau School and other smaller and routine capital projects.

The budget approved at Town Meeting and supported by a subsequent override vote in June provided for a 5.5% increase in operations for the Town, 4.8% for cps and 9.6% for Concord's ccrsd assessment not including excluded debt. Because FY07 state aid revenues were higher than expected, combined with increases in interest earnings, other local revenues and additional new growth, the expected increase in tax levy from current taxpayers was 3.6%, instead of the 6.1% projected earlier in the spring, leaving a $1,155,199 unused levy limit to carry forward to FY08. The Selectmen are pleased to be planning for a FY08 budget within the levy limit for the first time in six years.