X

Village of Potsdam approves $10.5 million budget for 2017-18; tax rate up 4 percent

Posted 4/26/17

By CRAIG FREILICH POTSDAM -- The village Board of Trustees approved a $10,474,834 spending plan for the 2017-18 fiscal year at their meeting Tuesday night. The tax rate will rise by 4 percent, from …

This item is available in full to subscribers.

Please log in to continue

Log in

Village of Potsdam approves $10.5 million budget for 2017-18; tax rate up 4 percent

Posted

By CRAIG FREILICH

POTSDAM -- The village Board of Trustees approved a $10,474,834 spending plan for the 2017-18 fiscal year at their meeting Tuesday night.

The tax rate will rise by 4 percent, from $17.15  per thousand dollars of assessed property valuation in the 2016-17 budget to $17.84. That is 69ยข per thousand higher than in the last budget.

The tax paid by an owner of property assessed at $100,000 will pay $1,784 to the village, $69 more than in the last budget.

Total spending is up 1.4 percent from $10,327,314.

The tax levy, or the amount to be raised by property taxes is $6,997,631, up 3.9 percent.

Salaries of full-time police employees is projected to be down 11.8 percent, or about $114,000.

The allocation for building maintenance is up to $40,100 from $5,000 last year.

Software and IT services has been allotted $100,000 in the new budget compared with nothing last year.

The funding of health insurance is down 4.6 percent, or $32,755, from $675,000 in the 2016-17 budget.

The vote was unanimous, with approval by Mayor Ron Tischler and trustees Steve Warr, Eleanor Hopke and Nick Sheehan. Tustee Ruth Garner was absent.

The new budget covers the village's fiscal year from June 1, 2017 to May 31, 2018.

The final budget has been posted on the village's web site at http://vi.potsdam.ny.us/content/News/View/23:field=documents;/content/Documents/File/471.pdf .