Taxpayers in the village can expect a 4.72 percent tax rate increase as a result of the 2010-11 budget, officials said.
The village board plans to hold a public hearing April 8 at 6:30 p.m. to announce a budget that increases spending to $833,608, a jump of $37,539 from the current year’s overall budget of $796,069.
The 2009-10 tax rate was $13.36 per $1,000 of assessed value. The tax rate increase adds an additional 63 cents, bringing the 2010-11 tax rate to $13.99.
A home assessed at $60,000 paid $801.60 in 2009-10. The same home will pay $839.40 in 2010-11, or a $37.80 increase.
Mayor Frank Moracco said the last tax rate increase was three years ago, but the village board was unable to make it a fourth year.
The 2009-10 budget did require taxpayers to pay more than they did the prior year, however. A one-time payment of $3.65 per $1,000 of assessed value was included in the budget. The payment allowed the village to pay almost $547,000 to buyout from the county’s workmen’s compensation plan. The $3.65 per $1,000 of assessed value amounted to an extra $219 in taxes for a house assessed at $60,000.
This year’s proposed increase comes despite an 18 percent cut in all village departments individual operating budgets, Moracco said. While there is no reduction in staffing or services, each department accomplished the cuts by reducing purchases of supplies and equipment.
The budget does include 3 percent raises for eight village union employees, as previously negotiated with their union representation. And 11 non-bargaining employees also received 3 percent raises in the proposed 2010-11 budget.
The non-bargaining employees did not receive a raise in the 2009-10 budget year, Moracco said.
This budget marks the second year that department heads have been asked to cut their original budget proposals.
Moracco said last year he asked for 15 percent cuts in operating budget proposals. But he is worried the departments will not be able to continue doing without equipment purchases.
“Eventually this equipment will have to be replaced,” he said. “Hopefully [the economy] will turn around soon.”
If the budget doesn’t rebound, the village is going to find it difficult to find more areas to cut in future budgets, Moracco said. Over the past two years, village employees have lost dental insurance and a paid half day for the election, he said.
The village board plans to vote to adopt the 2010-11 budget at a meeting April 22.
|
|
|
Taxpayers in the village can expect a 4.72 percent tax rate increase as a result of the 2010-11 budget, officials said.
The village board plans to hold a public hearing April 8 at 6:30 p.m. to announce a budget that increases spending to $833,608, a jump of $37,539 from the current year’s overall budget of $796,069.
The 2009-10 tax rate was $13.36 per $1,000 of assessed value. The tax rate increase adds an additional 63 cents, bringing the 2010-11 tax rate to $13.99.
A home assessed at $60,000 paid $801.60 in 2009-10. The same home will pay $839.40 in 2010-11, or a $37.80 increase.
Mayor Frank Moracco said the last tax rate increase was three years ago, but the village board was unable to make it a fourth year.
The 2009-10 budget did require taxpayers to pay more than they did the prior year, however. A one-time payment of $3.65 per $1,000 of assessed value was included in the budget. The payment allowed the village to pay almost $547,000 to buyout from the county’s workmen’s compensation plan. The $3.65 per $1,000 of assessed value amounted to an extra $219 in taxes for a house assessed at $60,000.
This year’s proposed increase comes despite an 18 percent cut in all village departments individual operating budgets, Moracco said. While there is no reduction in staffing or services, each department accomplished the cuts by reducing purchases of supplies and equipment.
The budget does include 3 percent raises for eight village union employees, as previously negotiated with their union representation. And 11 non-bargaining employees also received 3 percent raises in the proposed 2010-11 budget.
The non-bargaining employees did not receive a raise in the 2009-10 budget year, Moracco said.
This budget marks the second year that department heads have been asked to cut their original budget proposals.
Moracco said last year he asked for 15 percent cuts in operating budget proposals. But he is worried the departments will not be able to continue doing without equipment purchases.
“Eventually this equipment will have to be replaced,” he said. “Hopefully [the economy] will turn around soon.”
If the budget doesn’t rebound, the village is going to find it difficult to find more areas to cut in future budgets, Moracco said. Over the past two years, village employees have lost dental insurance and a paid half day for the election, he said.
The village board plans to vote to adopt the 2010-11 budget at a meeting April 22.
