Proposed 2015 Cortlandt Budget Well Below Tax Cap
Continuing what she proclaimed has been a 24-year tax cap during her administration, Cortlandt Supervisor Linda Puglisi delivered a proposed 2015 budget last week that calls for a less than one percent tax increase for property owners, the lowest since 2006 when the town experienced one of 11 tax freezes.
If the $37.86 million budget is unchanged, annual taxes for 75% of residents in Cortlandt next year will rise by $18. There is no town tax increase for residents in the villages of Croton-on-Hudson and Buchanan.
“I have worked very hard along with our entire team in our government (town board members, department heads and all of our 200 employees) to deliver and maintain a very close to zero percent town tax increase for our taxpayers while at the same time always seeking new ways to improve our services and community,” Puglisi said.
Since Puglisi took over in 1992, the average property owner in Cortlandt has seen their town portion of their tax bill increase by a total of $366. Town taxes represent only 11% of property taxes. School taxes are 69%, county taxes are 15% and special districts, such as fire, ambulance and library, make up 5%.
Over the last two years, Puglisi explained Cortlandt has had to compensate for $9.5 million in less revenue and additional costs. This year, the town was hit with a 37% increase in water rates from the New York City Department of Environmental Protection, along with a $500,000 increase in pension costs and higher health coverage expenses. More than 60% of Cortlandt’s 165 employees contribute to their health coverage.
“Even with these financial challenges and obstacles the Town of Cortlandt is able to present a very low town tax increase and dollar amount increase for 2015,” Puglisi said.
Spending in the budget is up just 0.8% and its tax levy of .29% falls well below the state mandated 1.56% tax levy cap. To balance next year’s budget, $1.29 million is utilized from the town’s fund balance, leaving Cortlandt with $5.9 million in the bank in all operating funds. Two years ago, the town has $9.5 million in undesignated fund balance.
Cortlandt also has $187,000 in an open space account and $48,000 in a recreation fund. The town’s bond rating was upgraded to Aa2 (double A) and it was recognized by the Government Finance Officers Association for excellence in financial reporting.
“We have never had one year of a deficit and we’ve always had a balanced budget,” Puglisi said. “Once again each year generated a surplus that we used for tax control and relief and maintained our savings account. Cortlandt has completed over $130 million of projects and did not impact our taxpayers with tax increases during these 24 years.”
Rick has more than 40 years’ experience covering local news in Westchester and Putnam counties, running the gamut from politics and crime to sports and human interest. He has been an editor at Examiner Media since 2012. Read more from Rick’s editor-author bio here. Read Rick’s work here: https://www.theexaminernews.com/author/pezzullo_rick-writer/