LOWVILLE — Village voters will get a chance to look deeper and make comments on the draft 2021-22 budget Wednesday afternoon during a public hearing and special meeting of the village Board of Trustees.
Mayor Joseph Beagle said that while the tax rate will drop by 1.5% this year, increased property assessments last year have resulted in an approximate increase of 4% in the total amount of taxes collected in the village, known as the tax levy.
In the 2020-21 budget, the tax levy for Lowville was $1,653,936 but the increase in value of some properties throughout the municipality has raised the levy by $66,372 in the 2021-22 tentative budget to $1,720,308.
The board voted in their November meeting, as required by state law, to go over the tax cap as the increase requires.
The lower tax rate will result in many property owners whose assessments did not increase receiving lower property tax bills.
At the new rate this year, property owners will pay about $9.46 for every $1,000 of assessed value, down from about $9.61 paid out last year.
Overall, revenue including the tax levy, is anticipated in the tentative budget to increase by $82,030, from $2,038,358 to $2,120,388.
Other revenue increases included consolidated highway aid growing from $110,000 to $128,000 and a $20,000 increase in appropriate reserves to $40,000 for a loader purchase.
Some revenue streams are expected to decrease slightly, including state public safety by about $4,000 and $13,300 in fines and forfeited bail.
Like revenue, spending appropriations are also increased in the village’s proposed budget by about $53,700 from $2,176,270 to $2,229,970 — a 2.47% change.
Transportation expenses will increase in the next year from $429,500 to $529,000, including a $20,000 capital outlay reserve, $50,000 for permanent improvements and a $20,000 equipment reserve.
The largest decrease in anticipated spending is in the public safety area with $42,100 less budgeted in the tentative budget than last year’s $616,200. In 2021-22, $574,100 is budgeted for public safety line items.
Expenditures in the village’s tentative water budget are decreased compared to last year by $76,984 and revenue is expected to be down 0.37% from $1,384,900 to $1,379,800, a decrease of $5,100.
Sewer revenue is anticipated to increase marginally, by 0.09% to $1,277,000, and spending decreases are planned to bring total appropriations down 2.25% from $1,22660 to $1,199,013.
The 4 p.m. meeting Wednesday will be held in-person at the village offices, 5535 Bostwick St., by joining the meeting via Zoom at http://us02web.zoom.us/j/87533432432 or by calling 1-929-205-6099 and using meeting ID number 875-3343-2432.
A full copy of the tentative budget can be found on the village’s website at villagelowville.digitaltowpath.org.