Budget analysis continued
Taxable property valuations (Town growth)
2009-2012
$2,653,238,845
2013-16
$2,794,202,520 - $140,963,674 increase from 2012
2017-2020
$3,016,663,344 - $222,460,824 increase from 2016
Tax Levy – Amount to be raised by taxation in last year of administration:
2009-2012
$20,797,167
2013-16
$20,826,862 – $29,695 increase from 2012
2017-20 (Tentative Budget)
$23,759,2,332 - $2,932,470 increase from 2016
This proposed budget increases the tax levy by 2.52%; well below the tax cap allowable limit of 4.94% - after adjustments and exclusions.
Town employee wages (Full-time & Part-time)
2012 – 10,893,628
2016 – 11,007,053 (113,424 increase over four years)
2020 – 12,797,316 (Tentative budget) – 1,790,263 increase over four years*
Tax Bills in the ending years of the following town board administrations based on single family residential property in Town assessed at $100,000:
2009-2012
$962.15
2013-2016
$906.75
2017-20
$973.84 (Tentative Budget)
*Hirings, union contract negotiations, Capital Improvement Projects, infrastructure, equipment.
Conclusion
Heavy spending occurred in the past four years because of money made available from increased revenues / investment returns, lower pension contribution obligations because of a healthy stock market, where town employees are now contributing to their health plans, and a growing taxation base through continued town growth.
I believe it is a sound budget and would only ask at the budget hearing on future sustainable growth, amount / percentage of developable land remaining and debt level concerns (where we are now spending $1 million per year on debt principal interest).