Tax Rate Jumps over 10% in Terrio-Vincent-Thomas Budget

Terrio: Will he crack the cap?

MANCHESTER, NH June 2, 2026–A document obtained by Girard at Large just moments ago largely confirm the news we broke last night about a forthcoming tax cap busting budget proposed by GOP aldermen Ross Terrio (Ward 7), Norm Vincent (Ward 11) and Kelly Thomas (Ward 12).  In that article, we noted that the Republican trio released a spreadsheet with adjustments made to the Democratic Aldermen’s budget but didn’t release the customary “budget sheet” showing the actual financial impact.

This morning, Girard at Large received that document, which largely confirmed our estimates of the impact, except we significantly underestimated the impact on the tax rate.

The Terrio-Vincent-Thomas Budget (TVT Budget) increases:

  • Taxes by $17,653,210 over the current budget, or 6.54%.
    • That’s more than double the 3% allowed by this years tax cap calculation.
  • City spending by $8,203,198 over the mayor’s budget
  • School spending by $2.5 million over the mayor’s budget
  • Overall spending by $10,703,198

Vincent

The GOP Trio also used the same deceptive tactic to hide the tax rate increase caused by their increase in taxes and spending.  They used the estimated value of the tax base from the yet to be completed revaluation to project a tax rate decrease of 22.79%, claiming the tax rate would fall from the current $24.20, calculated on the current tax base, to $15.64, which is calculated on the new tax base.  To make an honest and accurate comparison of the tax rates, basic math tells us that the tax bases must be the same to compare rates.  When the current rate is adjusted using the projected tax base, it falls from $20.24 to $14.20.  Therefore, instead of a rate reduction of $4.60, there’s actually an increase of $1.44, or 10.14%

The tax rate increase proposed by Democratic aldermen June Trisciani (at-Large) and Jim Burkush (Ward 9), on behalf of all nine Democratic aldermen, had a projected tax rate increase of $1.67 or 11.8%.  During the May 19 meeting of the Board of Mayor and Aldermen and in a statement issued after that meeting, the Democratic aldermen criticized the GOP aldermen for n other supporting their budget, depriving them of the votes needed to override the tax cap.  In response, Mayor Jay Ruais and Terrio indicated they’d be willing to override the tax cap, but not by as much as the Democrats wanted.

Thomas

In response to those arguments, conservative Republican aldermen Crissy Kantor (Ward 6) and Ed Sapienza (Ward 8) released a budget proposal on Thursday, May 28 that raised spending by just $853,218 and taxes by $8,715,242, which was $557,178 less than their calculated increase in the tax cap, which included the addition of $58.2 million in “net new construction” value  allowed by the tax cap to the tax base, generating another $1,177,952 in tax revenue.  The tax rate increase in the Sapienza-Kantor budget was 2.74%. The tax rate increase in the mayor’s budget was 3%

Terrio, Vincent and Thomas have taken a very different path, likely with the support of Ruais who said he was looking to “balance” the needs of city departments with city taxpayers.  This path gives the Democrats 74% of the spending increase and 86% of the tax increase demanded by Democrats.  It spends $8,937,968 more than the Sapienza-Kantor budget and raises taxes over their budget by $8,937,968.

Kantor

Sapienza

In an editorial commentary, Girard at Large asserted that the city’s tax hike would be determined by the Republican aldermen.  If seven of the Democratic aldermen vote for the TVT Budget, which would be required to override the three sections of the tax cap that would need to be overridden, then we can thank Terrio, Vincent and Thomas for a $10% tax hike, on top of what will happen as a result of the revaluation.  Note well that we didn’t dream they’d completely abandon their support of the taxpayer and offer a “compromise” that led to a double digit tax hike.

The Board of Mayor and Aldermen is expected to adopt a budget tonight.  The meeting is tonight at City Hall, 908 Elm St./1 City Hall Plaza.  It starts at 7 PM.  Kantor and Sapienza have been urging people to contact the mayor and their aldermen to urge them not to override the tax cap.  Members of the public who wish to address the board at tonight’s meeting should arrive 15 minutes before the meeting starts and sign in on the speaker sheet before 7 PM.

Click here for the mayor’s contact information.  Click here for the aldermen’s.

A note on the headline image.  There are four knives for the four Republicans we believe have betrayed the taxpayers, including the three aldermen proposing this budget and Mayor Ruais who we believe was involved in its development.