KINGFIELD -– A public hearing was held on Sept. 28 to discuss the pros and cons of changing the town’s fiscal year. Currently, the town operates on a Jan. 1 to Dec. 31 fiscal year, commonly called a calendar year. This results in a March annual town meeting with property taxes due in the fall. This could all change based on an upcoming vote of the residents at a special town meeting sometime in November.

Originally conceptualized by resident Jack McKee who formed a committee to look at whether the date of the Annual Town Meeting was best suited for the residents, the concept developed into something more. McKee’s group came up with a popular change made in other towns throughout the state and brought it to the selectmen.

The selectmen looked to see if residents were opposed or in favor by hosting a public gathering. The public hearing did not reveal opposition to the concept, said Doug Marble Administrative Assistant to the selectmen.

The new fiscal year could, if approved by voters, run from July 1 to June 30.

Farmington Town manager Richard Davis, whose town recently converted its fiscal year to the same concept, was invited to attend the hearing. Davis highlighted the benefits of the change.

He noted the benefits of aligning a town’s budget with the county, state and school budget that use the June to July budget. This is helpful when creating local budgets in knowing what to expect, he explained.

It will also help with the anticipated attendance at the annual town meeting. The change to a springtime meeting should bring an increase in attendance, because some did not attend due to working winter hours at Sugarloaf and others didn’t participate due to unfavorable weather in March.

Also, to transition and to implement this as a regular policy, Davis explained as a recommendation, taxes could be due twice a year. This makes tax payments less and easier for residents to pay, he explained. Marble said that taxes could on June 1 and Nov. 1 if the change was implemented.

The downside, Marble explained, is that the early discount for taxpayers may go away.

The date of the Special Town Meeting was expected to be determined on Monday, Oct. 5 at the next selectmen’s meeting, after the Irregular went to press for this issue.