Fiscal Year 2024 Budget Documents

The City Council adopted the Fiscal Year 2024 Budget at a Special City Council Meeting on Thursday, May 11.

Fiscal Year 2024 Approved Budget
  1. Fiscal Year 2024 Budget Overview
  2. School Budget Proposal Overview
  3. Capital Improvement Plan Presentation

Fiscal Year 2024 Budget Presentation

The City Manager presented the proposed Fiscal Year 2024 budget to the City Council on March 9, 2023.

When preparing the budget recommendations for the year, staff has to balance several priorities: the use of taxpayer dollars, the level of service that the City will provide, the needs of the City as an employer, the need for long-term investment, and general principles of fiscal responsibility.

When building this year’s budget, the City Manager made the following decisions when addressing budgetary pressures and the impacts on citizens:

  • Maintained service levels
  • Did not allocate funding for emerging services
  • Increased funding for capital assets
  • Continued to maintain the goal of making the City a preferred employer to improve recruitment and retention in a difficult labor market

There are no employee positions added to or removed from the budget. There is also no change recommended in fees charged for services.


The City is impacted by inflation like all other buyers. Inflation’s impact on the presented budget is $1,286,428 this year, which is equivalent to $0.41 on the tax rate.

Capital Improvements 

One significant policy issue that the Council will have to address is funding for capital improvements. Last year’s budget provided $1.6 million. The City Manager recommends that the Council allocates $3.6 million in capital investment for ongoing infrastructure needs. If the Council adopts this recommendation, the additional $2 million in funding would increase the tax rate by 3.89% ($0.64).


Based on Biddeford’s valuation growth in relation to other communities in Maine, revenue sharing from the state is set to decrease this year. On the other hand, investment income is up $525,000.

Property Tax Impact

The property tax impact of the budget as presented by the City Manager would be a $0.91 increase to the tax rate compared to FY23. Without the recommended significant increase in capital funding, the impact on the tax rate would be $0.27.

Projections from Assessing

Real estate pricing is continuing to increase in Biddeford. The Assessing Department is completing a review of real estate values this year including an assisted commercial review. Preliminary projections show that single-family homes will see less of an increase in values than nearly every other sector. Apartment buildings and water-influenced properties are preliminarily expected to see higher value increases. The Assessor is also projecting $20 million in valuation growth in the community from new development.

Key Budget Numbers FY24