fairfield taxes: Fairfield Budget Referendum Falls Short - 05/19/09 01:19 AM
According to the CT Post this morning, the petition for a Referendum on the Town Budget fell short of the required number of signers needed.  This Referendum would have asked for a reduction in the Board of Education budget for FY2010 of over $2 Million.  The budget currently includes a .32 percent or approx a one third of one percent increase over the prior year.
With the Referendum not passing, now all eyes turn to Hartford where the State Legislature is still debating.  Recent reports say they will very likely miss their June 3rd deadline for finalizing a budget.  Some even … (0 comments)

fairfield taxes: Fairfield Board of Eduction Budget Referendum - 05/18/09 08:29 AM
 After talking with the Fairfield Town Clerk's Office, here is the latest update -
Apparently a series of Referendum petitions have been turned into the Town Clerk's Office. So it won't be until sometime tomorrow (Tuesday) that we know if there are enough certified signatures to force a Referendum....stay tuned!
The Petition must have 1833 certified signers.....so the Town Clerk's office has to first count the number and verify that the signers are registered voters before a determination can be made about the Referendum.

fairfield taxes: Fairfield and the State ECS Grants - the Numbers Revised - 05/12/09 09:33 AM
From the First Selectman and Paul Hiller, we have the following as numbers....  
FY 2009 (aka this year) - $3,597,485 for ECS Grants (including both what we have received and what we expect to receive by yearend)  
FY 2010 (aka the budget) - $3,575,407 - the amount includes the $502k and change that we reduced the Town Revenue by because it is going directly to the BOE but is still counted as ECS Grant money by the State  
So if these two numbers are accurate, then we are approx $20,000 lower in ECS Grants for FY2010 than the … (0 comments)

fairfield taxes: Fairfield and the State ECS Grants - 05/12/09 09:24 AM
Here is an explanation from the CT Assoc of Boards of Education or CABE that Cathy Albin passed along...   This seems to have us covered....there is no penalty to the Town if the BOE funding is less than the prior year.    Now we can discuss what is really the most important issue - What quality of Education do we want to fund for our town?   Also - the one big caveat to what you are about to read - this assumes the State actually funds the remaining balance on the  FY09 ECS Grant. If that amount is cut … (0 comments)

fairfield taxes: Fairfield Pension Funds and OPEB Trust Funds - 04/24/09 01:19 AM
Explanation of the Pension Funds and OPEB Funds
This document is meant to provide a basic understanding of how the Town's Pension Funds and OPEB Trust Funds function.
There are four funds - The Police and Fire Pension Fund, The Employee Retirement Fund, The Police and Fire OPEB Trust Fund and the Employee OPEB Trust Fund.  The Police and Fire Pension Fund is authorized and managed per the Town Charter.  The other three are set up and managed per the Town Code (or Ordinances).  There is a Board for each fund that is charged with the responsibility to invest and manage … (0 comments)

fairfield taxes: Fairfield Real Estate Values Update - 04/23/09 06:48 AM
What drives Real Estate Values in Fairfield County?
There are two main drivers for Real Estate value in our area.  The first is proximity to New York City.  Not everyone commutes to NY but everyone competes against commuters for homes. Homes that are closer to NY are worth more in the Market.  This is one of the reasons average property values decline (or become more affordable) as you travel up the coast - Greenwich to Darien to Westport to Fairfield. For the most part, Fairfield is the last commuter town.  It is not that no one will commute from further out … (0 comments)

fairfield taxes: Connecticut wants to TAX All Home Buyers 1% of Purchase Price!!! - 04/20/09 06:06 AM
State wants to Tax Home Buyers 1%!
OK, what could possibly make today's Real Estate market worse for everyone and kill off the Federal Economic Stimulus program?  Our very own Connecticut State Legislature. Bill #6397 is one of the bills to make it out of committee.  If it goes forward, it will take effect on July 1, 2009!
This Bill requires HOME BUYERS to pay a 1% tax that would go to Towns and Municipalities to fund Open Space purchases, Brownfields and some other restricted uses (see below). This would have a very significant impact by making all Homes much less … (0 comments)

fairfield taxes: Fairfield and the New Budget - 03/13/09 11:05 AM
Here is an explanation of what it is like this year serving on Fairfield's Board of Finance....
This is a very difficult and challenging year.  We are currently facing a situation where we most likely do not have enough Revenues to cover the Expenses currently proposed - unless one is willing to make some very optimistic assumptions. We also have some key Expenses like our Pension Fund contribution not fully accounted for in the First Selectman's version of the budget. The current budget reflects something closer to a 4.5% Tax increase not the 3% that is being advertised.  
To put … (0 comments)

fairfield taxes: What should Fairfield Plan for? - 03/08/09 01:06 AM
This has been an absolutely beautiful weekend for this early in the year....and makes me just yearn for the coming spring and the time when Fairfield turns green with new life blooming everywhere.  And I know we don't need any bad news to spoil this feeling.....however, there have been some discussions about how long this current downturn might last and how quickly it might come back.  I believe we need to hope for the best but plan for the most likely...and be ready for something worse.  In a sense, we are all part of "management" and we all have an obligation to … (0 comments)

fairfield taxes: It's Budget Time in Fairfield! - 02/23/09 12:45 AM
It is one of the Rites of Spring. First Baseball starts with "Pitchers and Catchers Report".  The NCAA Basketball programs call it "March Madness".  But in this part of the country for Fairfield and the surrounding towns it is called Budget Season.  Each town based on size and Town Charter may follow a slightly different process but somewhere between now and roughly May 15th, Expenses are scrutinized & Revenues are estimated by the Board of Selectman and the Board of Finance.  Then at the Annual Budget Meeting of the RTM, the Expenses are approved. Next it goes back to the Board of … (0 comments)

fairfield taxes: Fairfield and the Budget Crunch - 01/05/09 04:19 AM
January 5, 2009
The Town of Fairfield and the Budget Crunch
The economy is finally hitting home.  Fairfield, as well as most neighboring towns, is faced with a Budget Crunch.  Revenues this year could fall as much as $3 Million short of the Budget.  There are four main reasons for the shortfall.
Tax Revenue - The slowing economy has also slowed collections.  So rather than collecting the stellar 99% or better as past years, tax revenue is falling short.  This estimated shortfall is based on collection performance for the October Quarterly payments.  It will be important to follow the January and … (0 comments)

Mike Tetreau, ABR, CRS, GRI,  Sales Vice President (William Raveis Real Estate - Fairfield, CT)

Mike Tetreau

ABR, CRS, GRI, Sales Vice President

Fairfield, CT

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William Raveis Real Estate - Fairfield, CT

Address: William Raveis Real Estate, 2525 Post Road, Southport, CT, 06890

Office: (203) 255-6841

Mobile: (203) 520-8318

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