Nov 05, 2012 Erin Wisneski Uncategorized
Despite a 17.8 percent decrease ($306,570) in revenue, Lysander officials have presented residents with an 8.9 percent decrease ($420,613) in spending for the proposed 2012-13 budget. In order to balance the proposed budget, however, the tax levy (amount raised through property taxes) will increase 4.6 percent ($221,457) from $1,914,128 in 2012 to $2,136,585 in 2013.
The overall 2013 proposed budget comes in at $4,292,927 compared to last year’s $4,713,540.
The Lysander highway budget has a proposed decrease of $463,092 ($1,844,593 proposed 2013 budget compared with $2,307,685 for 2012), which is greater than the reduction in spending for the entire proposed budget. However, it should be noted that the town as a whole will see a loss of sales tax revenue totaling $440,000 in 2013 as well as a $58 million decrease in assessed value (Lysander’s taxable assessed value is $1,495,908,540), which will have a direct impact on the tax rate.
The 2013 proposed tax rate for residents within the village is 53 cents per $1,000 of assessed property value, compared to 62 cents in 2012; this equates to a proposed $9 decrease in taxes for a property assessed at $100,000 within village limits. Residents outside the village will see an increase from $1.338 (2012) to $1.59 (proposed 2013) per $1,000 of assessed property value, which equates to a proposed $25 increase in taxes for a property assessed at $100,000 outside the village.
A budget hearing will be held at 7 p.m. Thursday, Nov. 8, at the Lysander Town Hall, 8220 Loop Road, Radisson. To review the entire budget, visit townoflysander.org and click on “2013 Town of Lysander Tentative Budget.”