Revenue shortfall discovered in Londonderry
Town council, school board consider using ‘rainy day’ funds to make up the difference
LONDONDERRY — A revenue shortfall due to an electronic processing glitch when calculating the tax rate has joined both town and school district to come up with a way to find a solution.
Town Council Chairman Tom Dolan addressed the issue prior to a town budget hearing Dec. 11. School Board members also attended.
Dolan said every year when it’s time to do an evaluation of taxable town property, numbers are entered on a form that eventually goes off to the state’s Department of Revenue Administration for tax rate calculations based on those property values and budget numbers.