The Town of New Castle's tentative 2014 budget has been released, which includes a tax increase.
It calls for a town-wide increase in the tax rate of more than 2.59 percent.
A tax rate is what people owe per $1,000 of a property's assessed value.
The tax levy, which is the total amount of tax revenue in the budget, is proposed to rise by almost 2.02 percent. The proposed levy is $20,150,614, versus $19,752,495 in the adopted 2013 budget. According to state law, the levy used for calculation purposes is the combined amount of tax revenue from all municipal funds.
A tax levy is subject to a cap, although the state allows for some exemptions, while a tax rate is not. The tax levy is within the cap, explained Town Administrator Penny Paderewski
Total spending for the tentative budget is proposed to be $36,851,255.
The largest expense increases include employee benefits (at $321,777), debt services (at $256,410) and highway repairs (at $183,167).
The tentative budget, Paderewski explains in a notice, is the first of three iterations in the budget process. The second version, called a preliminary budget, will be released after the town board meets with heads of departments. That version will be given a presentation and public hearing on Nov. 26, according to Paderewski, and the final version will be an adopted budget that will be decided on in December.
The town board will have a work session tonight for the budget, starting at 7 p.m. at New Castle Town Hall in Chappaqua. Another work session will be held on Thursday at 8 a.m., also at the town hall.
A copy of the tentative 2014 budget can be found at this link.
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