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Ogdensburg lawmakers to hold public hearing for proposed 2015 budget that calls for $1 tax increase

Posted 12/1/14

By JIMMY LAWTON OGDENSBURG -- Ogdensburg City Council will hold a public hearing at 7 p.m. tonight (Dec. 1) regarding the tentative budget that would raise the tax levy by nearly $300,000 and the tax …

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Ogdensburg lawmakers to hold public hearing for proposed 2015 budget that calls for $1 tax increase

Posted

By JIMMY LAWTON

OGDENSBURG -- Ogdensburg City Council will hold a public hearing at 7 p.m. tonight (Dec. 1) regarding the tentative budget that would raise the tax levy by nearly $300,000 and the tax rate by $1.04.

Councilors have proposed $19,096,646 budget. Although the council has held several budget meetings it has not yet passed any amendments.

The proposal serves as a working point as the council begins budget hearings that will be used to craft the final budget.

The tentative budget reduces total expenditures by $163,670, from $19,260,316 to $19,096,646 but revenues are also down.

Under the proposal, the tax rate will rise from $16.73 to $17.77 per $1,000 of assessed property value, though that will likely be decreased as the budget process continues.

The annual tax bill for someone with a $50,000 home would rise from $836.50 to $885. For a $100,000 home the tax bill would rise from $1,675 to $1,770.

The total amount raised by taxes will rise by $279,493 from $4,549,095 to $4,828,558.

Taxes will make up the largest portion of city revenue at 37.3 percent followed by sales tax at 28 percent and state aid at 14 percent.

The remainder of revenues will come from fund balance at 3 percent, federal aid at 4 percent, interfund transfers at 4 percent, departmental income at 2 percent. About 8 percent will come from other sources

The budget proposal approved by City Manager John Pinkerton stated that the city needs to “continue to look at other sources of revenue to relieve our taxpayers of the increasing burden of property taxes and continue to reduce overhead costs.