State program aids towns impacted by major loss of tax revenue
Balancing a municipal budget depends, in part, on property taxes paid by residents and businesses. But when a large business closes, it can have a devastating impact. Town Manager Cyr Martin says such was the case in Ashland when Re-Energy closed its doors.
"We're going through the process of a large tax-based company that's closed - Re-Energy - and we're looking at a seven mill increase, if we try to absorb it without getting any aid or anything or getting rid of the departments or cutting everything," says Cyr Martin.