EXCISE TAX FUND

About Excise Tax

The Excise Tax Fund accounts for the accumulation of new development excise taxes and the transfer of funds to other funds for the purpose of financing roads, parks or municipal facilities. Revenue from the Development Excise Tax Fund may be expended for the following purposes only: capital improvements for major streets necessary to meet the health, safety and welfare of the Town, which includes, but is not limited to, expansion of the Town’s street network and capital equipment; parks and recreation purposes necessary to meet the health, safety and welfare of the Town, which includes, but is not limited to, the expansion of regional parks and associated infrastructure and capital equipment; expansion of administrative facilities; the provision of law enforcement services, including facilities; cost accounting, management and government of the Development Excise Tax Fund; and payment of obligations issued for major street purposes, parks and recreational facilities, administrative facilities or law enforcement facilities.

FUND: Excise Tax Fund