New Castle’s fiscal position has remained strong over the last twenty-five years, weathering the Dotcom Market Crash in 2000 – 2001 and the 2008 global financial crisis. As evidence of the Town’s robust financial position in 2017, Moody’s recently reaffirmed the Town’s long standing AAA bond rating. Positive demographic factors including a per capita income of $89,919, as well as a county wide unemployment rate below 4%, contribute to annual property tax collection rates in excess of 99%. Despite a fluctuating economy, and the constraints of the state mandated tax cap, the Town continues to maintain a strong cash position over the last five years, growing its available fund balance to over 30% of operating revenues. The Town’s annual debt service is below 7% of the total budget, and just over 2.5% of the statutory limit meaning the town has ample means to continue funding its capital improvement plan. Recent data from the New Castle Tax Assessor’s Office shows property values are once again rising after a stagnant period due to the global economic downturn. Residential property taxes comprised more than 91% of total property tax revenue collected in New Castle, while commercial property taxes made up 3%. This breakdown of tax revenue is to be expected, as a vast majority of land in the Town is zoned for and used as residential property; 98% of land area in New Castle falls within a residential zoning district, and 56% of the Town’s acreage is comprised of residential uses. Commercial, office and industrial zones and uses comprise 2% of the Town’s land area. The Town of New Castle’s strong bond rating, ample reserves, and significant debt capacity allow funding for vital infrastructure improvement, and social programs that enhance residents’ quality of life and support economic activity in the Town.