VOORHEESVILLE Voorheesville board members approved a village budget exceeding its state mandated property levy tax cap on Tuesday, April 22.
The 2014-15 village budget, totaling slightly more than $2.047 million, actually decreases overall spending almost $75,500. Part of the around 3.5 percent decrease in appropriations stems from the village dissolving its court, which shifts over to the Town of New Scotland. Fund balance usage is also decreasing in the general fund to almost $50,700. Money is also allocated towards refilling its water and two sewer district fund balances.
The village is increasing its property tax levy 4.5 percent, which totals more than $287,700. This is the first time the village has exceeded its tax cap limit.
Village Mayor Robert Conway said village is raising an additional $12,000 in taxes, which is quickly consumed as expenses increase. The cost for street lighting increasing is $20,000.
“As usual, the board has struggled to maintain the budget as close to zero [percent tax increase] as possible,” Mayor Robert Conway said. “We will continue to try to maintain the services and the low tax rate. I think so far we have done a good job.”
The tax rate is increasing to $1.2552 per $1,000 of assessed value, which holds an increase of $0.0598 per $1,000.
There were minor reductions in the adopted budget. Additional funds were allocated to recreation department salaries based on program needs, according to village officials. There was also a reduction for audits to correct levels.
Elected officials and village employees are receiving a 2 percent salary increase. A 2 percent increase was also given in the 2013-14 budget excluding the mayor.
Overall revenue in the general fund is budgeted to increase 1.1 percent and totals almost $1.37 million.
Mortgage tax revenue was conservatively increased 10 percent and totals $33,000. The actual 2012-13 mortgage tax revenue totaled about $36,800 and appears to be on track for similar earnings in 2013-14.
Albany County sales tax revenue is budgeted to increase 1.2 percent totaling $840,000. The actual 2012-13 sales tax revenue totaled more than $875,000.