GLENVILLE Glenville residents would see taxes increase under a recently unveiled spending plan for next year.
The Town Board will be examining a proposed budget calling for a 3.4 percent property tax levy increase, which is within the state tax cap.
Glenville Supervisor Christopher Koetzle on Wednesday, Oct. 3, presented his proposed spending plan for 2013. It totals $18.5 million and calls for taxes around $69,000 below the town’s tax cap limit. The budget continues Koetzle’s push to reduce fund balance usage across the town’s three main funds, cutting that spending by more than $145,000 to total nearly $700,000.
“I think it is a good, sound and stable budget,” Koetzle said. “This could easily be a zero percent if we didn’t break that dependence on fund balance, which I think is tremendously important.”
Koetzle touted Moody’s Investors Services upgrade to the town’s general obligation bond rating to Aa3 from A1 in April as evidence supporting reduced fund balance usage. Moody’s said part of the town’s upgrade was due to reduced use of its reserves.
“Where other communities in this county have had their bond rating decreased, we’ve had ours upgraded, which goes against the grain,” he said.
Niskayuna was downgraded a notch last October, which along with Glenville’s updated rating brings the two communities to the same level.
Glenville’s tax base, though, falls more heavily on residents than in surrounding towns, with around 80 percent of taxes coming from residents. The town’s commercial sector accounts for around 15 percent, with other sources making up the remainder.
“Our residents unfortunately feel a larger burden of our tax levy than those of our sister communities,” Koetzle said. “This is why economic development is so important to the board.”
Koetzle said the town has made “tremendous strides” in expanding its commercial sector, but the payoff will only come once tax breaks expire.