As you know election day is quickly approaching and I wanted to share with you some thoughts about the fiscal progress we’ve made in Harrison over the last few years – I hope you will keep this in mind as you decide whom to support on November 5th.
Last year, we made history with our sound financial stewardship of the Town – we kept tax rates steady for our taxpayers by staying with the tax cap while building our financial reserves to levels recommended by the credit reporting watchdogs like Moody’s. As a result, Moody’s awarded Harrison with a stellar Aaa credit rating for the first time in the Town’s history!
Why is a AAA credit rating important? Harrison’s Aaa credit rating will save the Town approximately $580,000 in interest payments over the life of a recent bond issuance from 2018. We know this because compared what the Town would have paid in interest costs if it were still rated Aa on the same bond issuance. This is “real” money as they say and will go directly to services that will enhance our quality of life.
In addition to prudent budgeting and higher credit ratings, we have made forward-looking investments that will pave the way toward an even healthier financial future – they include: updating the Town’s master plan, completely repurposing the I287 corridor (Platinum Mile) and encouraging new residential and retail development. These innovations will fuel our economy and attract more local investment. The end result will be a further strengthening of our tax base which will help keep our property taxes under control.
I hope you will agree that improving our local infrastructure, attracting new businesses, and creating more local jobs are all vital components to boosting the Town’s overall economic prosperity and quality of life.
We have accomplished much in the last 8 years, but much more remains to be done – the Belmont Team would be honored to have your support to we may continue the progress.
Election day is Tuesday, November 5, please remember to vote.