The village board passed a new budget last week totaling $2,073,433.08, a 4.85 percent increase from the previous budget.
“The trustees have worked very hard to provide the necessary services, at the same trying to reduce spending,” Vilage of Cazenovia Mayor Tom Dougherty said. “Every year when we start our budget process, our target increase is zero percent tax increase.”
Under the new budget, someone with a $100,000 assessed property value will be paying an additional $18.34.
“That’s more than what we wanted,” Dougherty said, “but in these challenging times, that’s where we ended up.”
Several factors affect the new budget. Sales tax revenue for this year is 7 percent lower than projected, Dougherty said. He also cited increased spending for bonding of streets, increased insurance costs and increased wages.
Deputy Mayor Paul Brooks said that the budget had to account for substantial increases in health insurance and worker’s compensation costs.
Fuel costs this year have been lower than projected, which has allowed the village some savings this year, Dougherty said. Money has been cut from the fuel line of next year’s budget.
The revenues from total property tax totals $876,880.16, a 4.5 percent increase.
The taxable assessed value of the village totals $154,807,322, a 1.1 percent increase.
