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Lowville Town Council adopts budget with levy hike, rate drop

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LOWVILLE — The Lowville Town Council on Thursday adopted a 2013 budget that will increase the tax levy by 3.2 percent but lower tax rates.

The tax levy — including benefit assessments for water customers — will increase from $952,193 to $982,959.

That is $13,980 less than the maximum allowable increase under state tax cap legislation.

The town’s taxable value is projected to increase from $212.44 million to $221.14 million.

Because of that, the tax rate for village property owners will drop by 4 percent from $3.11 per $1,000 of assessed value to $2.99 per $1,000, while those outside the village will see a rate decrease of 3.2 percent from $6.48 per $1,000 to $6.28 per $1,000.

Spending will be at $1.98 million, up $11,130, or 0.6 percent, from this year’s budget.

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