SHARE

Buchanan Proposed 6.47 Percent Tax Rate Increase

BUCHANAN, N.Y. – Buchanan residents could be staring down a 6.47 tax rate increase, if the board of trustees passes a budget proposed by village administration. The increase is necessitated by $195,000 in increased spending, and by a predicted drop in revenue of $157,000.

“If we do absolutely nothing the budget goes up somewhere between 7 and 8 percent a year, because of our pension obligations, because of our medical benefits for our employees and because of a five-year contract that gives all employees a 2 percent increase,” said Nick Zachary, newly re-elected Buchanan trustee.

The tax rate increase represents an additional $233.11 per $1,000 in assessed value on property, an increase of $14.17 over the current rate.

Re-elected Mayor Sean Murray called the proposed budget a "wish list," and said that the village would still go through line-by-line looking for areas it can save.

Health insurance for village employees, for example, was increased by $55,000, retirement contributions went up by $65,000 and police retirement contributions went up by $15,000, accounting for the $135,000 increase in the employee benefits area alone.

Although revenue is estimated to drop $157,000 in the proposed budget, Buchanan would continue to receive a $2 million annual payment from Entergy, in accordance with a PILOT agreement between the village and Indian Point Nuclear Power Plants located therein.

The 2012-13 budget was made public Tuesday evening, after the village elections, in compliance with a state deadline for village budgets.

 “We really would like to not override the 2 percent tax cap, it’s a real sore spot with people in general, so we’re going to do everything we can to stay within,” Zachary said. Staying within the 2 percent cap for the Village of Buchanan would be largely a ceremonial measure, since the board already passed a local law allowing the board to override the cap.

The total proposed budget is $8,283,205.

 

to follow Daily Voice Cortlandt and receive free news updates.

SCROLL TO NEXT ARTICLE