Fayetteville Fayetteville residents can expect to pay the same amount in taxes this year that they’ve been paying for the last ten years.
Mayor Mark Olson presented the 2014-15 tentative budget to the village board at its March 10 meeting. The $5.5 million budget projects an unchanged tax rate of $6.70 per $1,000 of assessed home value.
“Overall, this was a little bit nerve-wracking, but when we put the numbers together, they look pretty good,” Olson said.
Once again, the biggest changes in the budget were unfunded mandates from the state – specifically, pension and healthcare costs. This year, expenses went up $88,000, and $68,000 of that number was for pensions and healthcare alone. Between village employees, police and fire, the total cost for retirement went up $48,000 from 2013.
Another change was a $5,000 increase in the codes enforcement department’s budget.
“We bumped up codes because we are starting to get busier and busier – fees are starting to come back up, so we budgeted a little more there,” Olson said. “Everything else is pretty much in line with what we’ve done in the past.”
This year, the village is looking at a fund balance of $399,000, up $2,000 from last year. Additionally, assessments went up $2 million, from $289 million in 2013 to $291 million in 2014, which Olson said was less of an increase than the village usually sees.