The Van Buren Town Board unanimously approved the 2007 budget last Wednesday.
After holding a public hearing with no comments either for or against the budget, Supervisor Mary Crego briefly went over the specifics of the budget.
The 2007 budget is $3.7 million (not including special districts such as lighting, sewer and drainage), a $200,000 increase from last year's budget. The town's assessed value increased 5.14 percent from $471 million in 2006 to $497 million in 2007.
Property owners who reside outside the village will pay a tax rate of $5.01 per $1,000 in property value for both town ($2.27 per thousand) and highway funds ($2.74 per thousand). This is a decrease of 15 cents per thousand from last year. Property owners who reside within the village will pay a tax rate of $1.93 per $1,000 in property value, a decrease of nine cents per thousand from last year. The overall tax rate for the town of Van Buren decreased by 2.39 percent.
"The decrease in tax rate is partly due to increased assessments," Crego said.
The total tax levy for 2007, which is the amount of money generated solely from taxes, is $2.291 million. The tax levy for properties within village limits decreased by 1.81 percent from last year, while the tax levy for properties outside the village increased by 3.85 percent. The tax levy for highway expenses, which only apply to properties outside the village, also increased by 2.32 percent from last year.
According to Crego, there were no items of major significance in the 2007 budget.