Budgetary Procedures

The fiscal year for the City of Stamford shall commence on July 1 and end on June 30.
Tax payments are due on or before August 1 and February 1.
Once notified of the tax rates by the Board of Finance, the Tax Collector shall distribute tax bills on the first day of the fiscal year.
The Board of Representatives has the power to extend the date for issuing tax bills if necessary.

Stamford shall be divided into two tax districts: the City Tax District and the Town Tax District.
The City Tax District includes all territory served by the Regular Fire Department. All property in this district is subject to taxation to pay for all costs associated with the operation of the Regular Fire Department.
The Town Tax District comprises the entire area of Stamford. All other property served by the Volunteer Fire Department is subject to taxation to pay for all costs associated with the operation of the Volunteer Fire Department.
All property to which the City's Recycling and Sanitation Division is available is subject to taxation.
All motor vehicles shall be taxed at a uniform city-wide mill rate.
When sanitary sewers becomes available after extension of sewers, said property shall be liable for additional taxation by the Water Control Pollution Authority.
The tax bill presented to each property owner shall record as separate items the mill levy laid for the net appropriations for the Board of Education, the Social Services functions of the Office of Administration, Debt Services, General Government expenses and the special items taxable against the particular Tax District.

The Board of Representatives may issue bonds if requested by the Mayor and approved by the Board of Finance.
The Mayor shall write a quarterly report of the status of each capital project detailing when each uncompleted or partially-completed project is to completed, those which have been completed, and unexpected bond funds for completed projects.
When the Board of Representatives issues a bond to finance a capital project, the Board of Finance may authorize a temporary loan for up to a year.
In case of a public emergency, the City may issue bonds for the payment of the emergency expenditure with an affirmative vote of the Board of Finance (at least 5 members) and Board of Representatives (3/4 of entire membership).
With approval of the Board of Representatives, the Mayor may borrow monies as deemed necessary to meet the financial requirements of the City.

Details the process that the Board of Representatives may take to alter, establish, or discontinue the following when it deems to be an issue of public health, safety, welfare, convenience, or necessity: building lines, streams, dams or obstructions, storm sewers or drains, streets or highways, and parks.