If the proposed budget is approved, village residents can expect a 9.16 percent decrease in the tax rate on both sides of the river.
Last Thursday, the village board held a public hearing regarding the 2008-09 budget, which begins March 1 and ends Feb. 28, 2009. With a proposed budget of $4,177,375, the village is requesting approximately $15,000 more than the 2007-08 budget.
The proposed tax levy (the amount to be raised by property taxes) is $1,853,412, approximately $50,000 less than the current budget, which is a result of the increased assessed value of the entire village. The total taxable assessed value (2008-09) is $220,263,071 for town of Lysander properties within village limits and $71,211,552 for town of Van Buren properties within village limits.
The increased assessment assists in decreasing the tax rate from $7 per $1,000 of property value (for both Lysander and Van Buren properties) to $6.36 per $1,000.
The proposed budget also includes wage increases for most of the appointed officials. There are no proposed salary increases for elected officials.
The budget will be on the agenda for the village board meeting held at 7:30 p.m. Thursday night at the village hall, 16 West Genesee St., west of the four corners.