The preliminary budget for 2010-11 presented at the Larchmont Village Board meeting on Monday, April 5 calls for appropriations of $15,507,096 and a tax rate increase of 2.83%.
That’s a tad lower than the Tentative Budget released a few weeks ago, which was around $80,000 more and had a 3.14% tax increase. And it’s only a bit more than the tax increase from last year, which at 2.4% was the smallest in recent years.
For a homeowner with an assessed evaluation of $20,000, the preliminary budget would impose a Larchmont tax of $5,977 or $299 per thousand.This is up $165 from 2009-2010. “That’s about $11 or $12 a month higher than last year,” Mayor Josh Mandell pointed out.
Trustee Richard Ward said, “Just think, for over $500 a month to get the services of the police, fire, and sanitation departments as well as the use of our wonderful library.”
Mayor Mandell explained that some fiscal challenges faced by Larchmont are shared by most other municipalities: a 17% increase in pension contributions and a 5% increase in health care contributions.
However there are issues unique to this year and to this community. Mayor Mandell said, “The largest effect on this year’s budget for this specific year is due to our level of debt.” This item is up by more than 40%, to $213,000, largely because of debt incurred to renovate Flint Park. “This debt service will cause 1.85% of the increase in our tax rate for this year, but it will not be there every year,” he added. “Therefore, if you look at the tax rate increase for our basic services, it is under 1%.”
What’s Up, What’s Down
More details came from Village Treasurer Denis Brucianni,. The $15.5 million budget includes an increase of $487,000 or 3.25% over last year. In addition to the increases cited by Mayor Mandell, Mr. Brucianni listed a 2% increase in costs for salaries and a 5.31% increase for fringe benefits. Library transfer costs were up 3.83%.
“However, there was actually a saving of $35,000 or 2.28% in our Joint Sanitation expenses,” he pointed out. In addition, all other appropriations were down $109,332 or 5.92%. This may reflect plans to not replace the outgoing fire chief. (See Tentative Budget for additional details.)
On the revenue side, Mr. Brucianni is expecting next year to improve: he projects sales tax to contribute $775,000 up 5%; fines to be $575,000 up 3.7%, transportation which includes parking and meters to total $663,000 up 4.4%, and real property tax to bring in $11,809 up 15%.
There were no questions or comments from the public. The mayor does not anticipate much change before the final budget hearing on April 26.
|Final (General Fund) Budget Appropriation||Surplus Allocated||Tax Rate per Thousand|