Bedford’s bright idea: Returning tax money to taxpayers
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Bedford town officials and the town council are considering giving to taxpayers the money that belongs to the taxpayers. Next thing you know, the high school will be telling students to take the bus and leave their cars at home.
The town has a policy that it should always keep on hand an amount of money (the taxpayers’ money) equal to somewhere between 8 to 17% of a year’s appropriations. It calls this money “unassigned.” In the past, if the “fund” topped 17%, officials would spend it, sort of like a family might do with a tax refund.