by Dan McClelland
Village administrators have released the proposeddraft on the 2016-17 village budget that will be presented to the public at a hearing next Monday at 4:30p.m.
The budget is the operating plan for the village office, the police and fire departments and the village department of public works. Not included in the general budget which is funded in part through village taxes are the budgets of the electric, water and sewer departments which are supported by ratepayers here.
Typically the board meets several times each spring in budget workshops to tweak the draft presented by Village Treasurer Mary Casagrain and her staff.
The proposal forecasts total spending in the budget of $2.798 million- an increase of $241,971 over the current spending plan or an increase of 9.5%.
Balanced against that level of spending would be $754,650 in estimated revenues (other than property taxes) and a fund balance of $75,000 projected at the end of the current year at the end of June.
The total tax levy for the new year would be $1.968 million- an increase of 5.13% over the current year's tax levy.
The $1.968 million levy is $76,234 over this year's state-imposed tax cap. The allowable property tax cap limit is $1.892 million.
Based on a projected total assessment of property inside the village of $137,121,279- a new village tax rate of $14.3590 per $1,000 assessed valuation is in prospect if the village board adopts the plan as presented.
The tax rate in the proposed budget is 68.8 cents per $1,000 higher than the current year's tax rate or up by 4.8%.
The current village tax rate is $13.67 per $1,000 of assessed valuation. The total valuation in the village for tax purposes this year was $137,295,474. The total assessment in the village is expected to decrease by $174,195 for the new budget year.
Last year at this time the village budget-makers were counting on a $621,000 increase in total assessment to help cut the tax rate of $13.67 per $1,000 this year.
In 2014-15 total assessment in the village was $136,848,471 and the tax rate was $13.33 per $1,000 of assessed valuation.
The year before that in 2013-14 total taxable assessment was $136,872,443 and the tax rate was $13.04.
That year the tax rate actually dropped from a 2012-13 rate of $13.19 when the total assessment was $137,525,069.
In 2012-13 total assessments and the village tax rate saw major adjustments after the town completed a revaluation of all town and village property. The effect of that reval was that total assessment in the village increased from $105,347,054 to $137,525,069 and the tax rate dropped from$15.55 to $13.19 per $1,000.
by Dan McClelland