WADDINGTON – Waddington taxpayers will not see an increase in the towns tax levy for the fourth consecutive year.
The town council unanimously approved its 2014 budget Monday. The proposed budget reduces the tax levy to $262,158, down $400 from the current budget.
The tax rate was also reduced by about 1 cent per $1,000 of assessed property value to $1.96.
The total budget for 2014 will be $1,406,232, an increase of $57,641 from this years budget of $1,348,591.
Rising increases from pensions and health insurance contributed to a 20-percent tax levy increase at the start of the budget process, Town Supervisor Mark Scott said.
Decreases in the tentative budget included a $4,000 cut from the towns $15,000 economic development fund, a $2,762 decrease in the towns $7,228 contingency fund, a $3,000 decrease from the $9,000 Recreational
Department budget, and a $2,000 decrease in the towns highway equipment fund.
The cuts also helped to offset 2 percent raises for several fulltime employees. Town council members also approved a 2 percent raise for the towns assessor Monday. The assessors salary will increase $284; from $14,200 to $14,484. The increase was paid from the towns contingency budget.
He works very hard, and I think he should be compensated for that, Council member David Putney said.
The current unused fund balance is approximately $250,000.