PEEKSKILL, N.Y. -- A public hearing has been scheduled by the Common Council for the proposed 2012 budget for Monday, Nov, 21 at 7:30 p.m.
The Common Council scheduled the hearing at its Nov. 15 meeting. Mayor Mary Foster and the six council members are still in the process of making changes to the $32.2 million budget presented by City Manager Rick Finn.
The council is still very committed that they dont want layoffs, and we are not willing to sacrifice services, so were trying to find that exact balance, Foster said of this years budget challenge.
Finn's proposed 2012 budget calls for a tax levy increase of 3.4 percent in order to compensate for state pension and insurance costs. According to the budget, which was posted in its entirety on the city's website, www.cityofpeekskill.com, the average city residential property owner with a home valued between $270,000 and $320,000 would pay between $75 and $94 more per year in property taxes.
While the 3.4 percent increase is higher than the two percent tax passed in Albany this year, the new state law allows exceptions for certain leave pension increases, which allows the city to increase taxes an additional 1.4 percent to compensate for the significant pension cost increases the city will pay next year.
The council is still in the process of finalizing its version of the budget, and held a special meeting on Wednesday night in hopes of finishing the process.
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