Town Council approves Town Manager's proposed FY23 Budget - Budget Committee Public Hearing January 10, 2022 at 6:30 PM in the Town Hall Auditorium

If budget remains unchanged, the Town tax rate would increase by three cents
FY23 Proposed Budget
FY23 Proposed Budget

The Newmarket Town Council approved Town Manager Steve Fournier’s proposed Fiscal Year (FY) 2023 town budget of $15.2 million at their November 3, 2021 Council Meeting. This includes a general fund budget of $9.3 million, a Special Revenue budget funded at $1.7 million, and an enterprise fund budget of $4.1 million. Overall, this is a 10.46% increase over the current fiscal year. Fiscal Year 2023 runs from July 1, 2022, to June 30, 2023.

Town Manager Fournier said “while a 10.46% budget increase is not insignificant, it is important to note that when creating this budget, Department Heads and I balanced the need to invest in infrastructure and increases in contractual costs understanding what the taxpayers can afford. While the percentage of expenditures is going up, we are offsetting it with additional revenues, and we are anticipating only a three-cent increase on the Town’s portion of the tax bill.”

The FY23 proposed budget is available on the Town website at www.newmarketnh.gov.