Croton Officials to Hold Public Hearing on $18.3M Budget Plan Monday

Croton officials have scheduled a public hearing on for next year’s tentative budget for 7:30 p.m. Monday inside the village municipal building.

The spending plan, which was filed last month, calls for general fund of about $18.3 million and a tax levy of about $11.2 million. The estimated tax rate would be about $253.697 per $1,000 of assessed valuation, which represents an increase of about 5.38 percent.

The tax levy in the proposal is above the state’s property tax cap limit for the village of $10,881,215. 

“Due to increase in costs that are beyond our control, the proposed budget for fiscal year 2013-2014 will not allow us to stay within the tax levy limit, of $10,881,215 set by the state Comptroller’s Office based the property tax cap legislation,” village Manage Abraham Zambrano wrote in his budget message. “The board’s proactive measure to enact a local law to override the state’s property tax cap law is giving the village the ability to continue to provide services to its residents and taxpayers.”

 Revenues are expected to increase by $292,622 to an all-time high of $6,413,983 side of the budget.

But costs from employee pensions and health insurance are also expected to see hefty increases. The village’s contributions to the state and police retirement systems are expected to increase by $259,298 next year.

Premiums for health insurance are also expected increase by $102,477.

Pension and health costs account for $3,417,167 of the budget. 

An overview of the budget proposal can be found here. A PDF of Zambrano’s budget message is also attached to this story.