MADISON — Residents will be asked to consider a $3.2 million budget at the annual town meeting Monday.

The $3,208,064 budget represents a five percent decrease from the current budget of $3,411,974 according to Town Manager Dana Berry.

The meeting will be at 7 p.m. Monday at the Madison Junior High School auditorium. Elections will be held from 8 a.m. to 8 p.m. Tuesday at the town office.

The town will spend less money this year on resurfacing roads, a change that accounts for most of the budget decrease, and will be paying for some of the road costs with TIF funds, according to Berry. Tax increment financing, or TIF, is a method of re-directing state tax revenue to spend on local development.

It is still too early to tell what impact the budget will have on the property tax rate, said Berry.

“If there is no change in valuation and everything stays the same, there should be no increase in the mil rate. It could even decrease,” he said.

Among the items residents will be asked to consider Monday are $10,200 to pay the directors of the Department of Electric Works; $11,200 to pay the board of selectmen; $645,983 for general expenses including administrative costs, board and committees and code enforcement; $985,602 for public safety; $235,000 for waste disposal; and $707,262 for public works.

Also on the warrant are requests for townspeople to approve the sale of three town-owned properties that were foreclosed on and an update to the General Assistance Ordinance, which provides guidance for how people can apply for state and town financial assistance.

The final item on the 30-article warrant asks residents to approve a $255,000 loan to the school district from the undesignated fund balance in order to buy three new school buses. The loan would be repaid to the town over four years.

Rachel Ohm — 612-2368

[email protected]

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