By ANDY GARDNER
MASSENA -- Due to a slim fund balance, Village Treasurer Julie Sharlow is predicting a difficult process in crafting the village’s 2014-2015 budget.
“We have a very tough budget year ahead,” she told the board.
Sharlow said that the fund balance has about $400,000 left and most of it will likely be used to offset property taxes.
“I wouldn’t approve the whole fund balance” to be spent in the budget, she told the board.
Last year the village spent $527,000 to keep taxes down and $520,000 the year before that, according to Sharlow.
There is potential good news. Sharlow noted that the county’s recent one-percent uptick in sales tax will provide revenue that could mitigate the difference.
“The impact for the village of Massena will be around $120,000 to $150,000,” she said.
“We’ll need to use checks and balances to avoid ‘sticker shock,’ if you will,” Mayor James Hidy said.
The 2013-2014 budget called for a 4.22 percent tax increase over the previous year. The tax rate was raised to $14.56 per $1,000 of assessed value, meaning the owner of a $50,000 home was charged $728 in taxes and a $100,000 was taxed $1,456.