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While the $12.4 million spending plan calls for a 1.14 percent tax levy increase, which falls below the state cap of 1.15 percent, it represents a decrease in the proposed tax rate, per $1,000, of 1.37 percent, the village said.
The current total tax levy is $7,785,807; the projected levy is $7,874,919.
Revenues other than taxes totaled $4,502,035 in fiscal year 2016-2017. This coming year, they are estimated at $4,544,057.
The average homeowner will save about $50, the village said.
The adopted budget for the fiscal year 2016-2017 is $12, 287,842. The tentative budget for fiscal year 2017-2018 is $12,418,976, an increase of 1.07 percent.
The assessed valuation, currently at $14,265,199 is expected to rise 2.55 percent to $14,628,361.
Assessments are the key, said Village Administrator David Burke, to the village’s ability to lower taxes.
“Just think of it as a bigger pie,” he said Monday.
One of those slices can be attributed to new construction, and other projects, such as The Avenue at Crestwood, a 47-unit apartment complex built in 2015.
Mayor Steve Ecklond credited the “unprecedented tax decrease” to the village’s “improving property values, strong fiscal management, and continued pressure on all departments to keep their budgets in line.”
Burke noted that it may be an “old cliché,” but the village was able to keep costs down by going over the budget “line by line.”
Tuckahoe, like many other communities, is slowly recuperating from the economic effects of the 2008 recession, but there is definitely light on the horizon, Burke said.
“I am very pleased to see the results of our efforts to keep village expenses at a minimum and the turnaround of property values due to the desirability of our community,” Ecklond said.
“Tuckahoe continues to grow as one of the county’s best and safest places to live and raise a family,” the mayor added.
The tentative budget was filed with the village clerk Friday.
The Village Board plans to hold a public work session on the tentative budget at 8:30 a.m. Saturday, March 25, Burke said.
To see a copy of the plan, click here.
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