In October 2006, the New York State Comptroller’s Office released a Financial Report on Villages . The report studied financial patterns within the State’s 554 villages.
By braking down revenues and expenses into categories, the report shows how the average village obtained revenues and spent them.
Last week, Depew released its proposed budget for fiscal 2007-08. By using information in the State’s report and Depew’s budget, village residents can see how Depew compares to other villages.
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The average village derives 45 percent of its income from real property tax and 7 percent of its income from sales tax. By comparison, Depew gathers 66 percent of its income from property tax and 13 percent of its income from property tax. Compared to other villages, Depew is heavily reliant on taxes.
The second largest source of income for the average village is Fees, Licenses and Other Revenues. Average villages obtain 17 percent of their revenues from this source. Depew procures 8 percent of its income from Fees, Licenses and Other Revenues, less than half the rate of the average village.
The average village secures 13 percent of its revenues from sewer fees. Depew collects 5 percent. Considering sewage fees as an expense to property owners, Depew sewer rates are probably lower than in other villages.
New York State’s average village gets 7 percent of their revenues from a Utilities tax. Depew derives a mere 2 percent from this Utility tax.
The average village picks up 7 percent of its revenue from state aid. Depew is under that average, collecting only 4 percent in state aid.
Depew is also below average in receipt of Federal aid. The average village chalks up 4 percent of its revenues to Federal aid. In Depew, the average is 1 percent.
There is one category where Depew is on par with the average village; fines. Both Depew and the average village use fines to make up 2 percent of its revenues.
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Depew has the reputation of being one of the most heavily taxed villages in New York State. Considering that the proportion of property tax to total revenue is 68 percent higher in Depew, compared to other villages, this reputation is understandable.
If there’s a bright spot, it’s in sewer fees. Depew’s sewer fees are less than half of what they are in other villages.
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Sources:
Financial Report on Villages , from the Office of the New York State Comptroller, Alan G. Hevesi, October 2006
Village of Depew 2007/2008 Tentative Budget
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