Hearing on Potsdam Village’s $10.7 million budget Monday
POTSDAM -- The Village of Potsdam’s $10,724,470 spending plan for 2019-20 will be discussed Monday at a 5:45 p.m. hearing in the Civic Center Board Room.
The budget for the next fiscal year is up $252,318 or 2.4 percent from the 2018-19 budget.The tax levy– the amount to be raised by taxes and fees for its general fund expenses – will be $3,926,752, which is $108,914 or 2.8% more than last year’s levy of $3,817,838.
The property tax rate will be $18.28753 per thousand dollars of a property’s assessed value, an increase of 0.5% from the current tax rate of 18.19708%.
That translates to $1,828.75 on property worth $100,000 compared with $1,819.71 in the current fiscal year. That’s $9.04 more.
$68,000 or 14% more is being allocated for retiree fringe benefits than this year, up to $555,000 from the $487,000 in the current year’s budget.
After some significant work this year, funds for fire department building maintenance will be $10,000 in 2019-20, down from $50,000.
The road salt allocation for 2019-20 is up 72.7 percent, from $55,000 to $95,000.
Revenues in all categories from all sources are expected to rise by 1.6%.
The village’s preliminary budget for fiscal year 2019-20 can be viewed at http://vi.potsdam.ny.us/content/News/View/45:field=documents;/content/Do...
The actual vote on the plan by the Board of Trustees is set for a special meeting Friday, April 26 at 1 p.m.