Village trims tax levy hike

April 17, 2008 12:59 pm

— By JIM AUSTIN
Cooperstown Crier

Village officials have pared more than two percent off the increase in the tax levy, according to a tentative budget scheduled to be adopted next week.

The increase in the tax levy, or amount to be raised through property taxes, now stands at 3.67 percent over the previous year, according to Village Treasurer Mary Ann Henderson. The tax levy is now $1.62 million.

The village is budgeting for one less police officer, which cut almost $33,000 from the spending plan. Added to the budget was $15,000 for sidewalks that had been omitted from the tentative budget.

Revenue is up almost $2,900 due to additional state highway funding. The changes to the budget added up to an almost $50,000 decrease in general fund spending.

Also helping to reduce the tax levy was an adjustment to the total assessed value of taxable village property.

Henderson said the tax base increased between the tentative and final assessment roles by more than $1.6 million to a total of $362,177,323.

The tax rate for next year’s budget had been $4.62 per thousand dollars of assessed value, but with the new figures, it works out to $4.49 — a drop of 13 cents. Henderson said one of the bigger increases this year was an 82 percent jump in worker’s compensation insurance that went from $69,000 to $125,000. The insurance provider is the Otsego County self-insurance plan.

The village’s employee health insurance is now provided by CDPHP and insurance and health benefits are up by $40,000 or 18 percent. The budget also includes increased fuel costs, $10,000 for a new septic system at Fairy Springs and an average three percent raise for employees.

The budget is expected to be adopted by the village board during a meeting next Thurs., April 24, at 9 a.m.