Lavieri: Fiscal Year End Update for New Canaan
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[Todd Lavieri is chair of the New Canaan Board of Finance.]
The Town of New Canaan finished the fiscal year 2025-2026 with a larger budget surplus than expected. This was the result of stronger revenue primarily from interest income and conveyance fees on property sales, coupled with expenses coming in below budget. This allowed us to deliver $5.8 million back to the taxpayers, which is $800,000 more than expected. We applied the $5.8 million to lower the amount needed through taxation.