X

Latest version of next Potsdam village budget, at $10.1 million, up 5.2 percent; taxes going up

Posted 3/24/15

POTSDAM -- The village is working on proposed budget appropriations of $10.1 million that will call for a 3.77 percent increase in property taxes, a 10.84 percent hike in water taxes and 8.78 percent …

This item is available in full to subscribers.

Please log in to continue

Log in

Latest version of next Potsdam village budget, at $10.1 million, up 5.2 percent; taxes going up

Posted

POTSDAM -- The village is working on proposed budget appropriations of $10.1 million that will call for a 3.77 percent increase in property taxes, a 10.84 percent hike in water taxes and 8.78 percent more for sewer tax.

The total preliminary budget appropriation for 2015-16 is up half a million, or 5.2 percent, from last year’s budget.

Anticipated revenues, also at $10.1 million, are budgeted to rise by $537,614, or 5.6 percent, from last year’s budgeted revenue figure of $9,641,139.

The basic general fund tax rate, at $15.62 per thousand dollars of assessed property value, compared with $15.06 for 2014-15, will mean a bill of $1,562 on a $100,000 property and half that, or $781, on a $50,000 property. That’s $56 and $28 more, respectively.

The water fund rate would go up from $6.99 per thousand to $7.75. The sewer fund rate would increase from $6.78 per thousand to $7.38.

The village court budget is being cut by 38 percent, or $39,000 less, with consolidation of the town and village courts.

The amount slated to go into the contingency fund is going up from $20,000 in the current budget to $70,000 in the 2015-16 plan.

The police department budget is being held to a 1.6 percent increase, or $20,000 more, for a total of $1.3 million.

Street maintenance is being allotted 5.5 percent more, or $17,453 more, for total of $334,806.

The planners believe they can get by with a budget for next snow removal season of 2.3 percent less than the current budget provides.

The village is expecting less in county sales tax revenue, down $10,000 to a projected $1,290,000 for fiscal 2015-16.

The second of two open budget work meetings will be held in the Civic Center Thursday, March 26. The official budget hearing is set for 6:30 p.m. April 6, before the board’s regular meeting.

The preliminary budget for the 2015-2016 fiscal year, June 1 to May 31, can be downloaded or viewed at http://vi.potsdam.ny.us/content/Departments/View/4:field=documents;/content/Documents/File/215.pdf