Mt. Kisco, P’ville Budgets Propose 2.5% Tax Hike for Property Owners
A tax hike for home and property owners in Mount Kisco in the proposed 2023-24 fiscal year budget is 2.5 percent, which is compliant with the New York State Tax Cap.
The draft budget was presented last week to the Mount Kisco village board by Village Manager Ed Brancati. If the draft budget is adopted, a home in the village with a market value of $457,500 will see a tax bill increase of approximately $96.75 in the next fiscal year.
According to Brancati, the tax rate increase of 2.5 percent was calculated by using $35,497 of carryover in tax revenue from the prior year when the budget remained below the two percent tax cap limit.
The budget’s first draft proposes $26 million spending in the general fund, an increase of $2,098,441 million, or 8.72 percent, over this year’s budget.
Brancati said the biggest increase in spending is the debt payments for the village capital plan. “We took the last phase of debt for all general, water and sewer fund projects that we are looking to accomplish through our capital plan. The interest and payments began this year,” he explained.
The capital plan includes $625,000 for paving village roads in dire need of repair. The project includes $200,000 in state funding and the village expects to put together a bid package next month so work can be start at the beginning of the summer.
The capital plan includes funding for sidewalk and streetscape improvements throughout the village’s downtown as part of the ongoing revitalization project. $250,000 from the capital reserve fund will be spent to replace additional vehicles in the village fleet.
The proposed budget keeps water rates unchanged for the eighth year in a row and sewer rates the same for the second year in a row.
Village spending for certain funds is projected to increase from this year by $3,082,440, including the library fund increase of 99 percent ($19,782), the water fund by 17.83 percent ($820, 709), and sewer fund by 13.06 percent ($143,508). The operational budget for the fire department has been increased by $81,309.
A public hearing on the proposed budget is scheduled for Monday, April 3 at 7 p.m. The board is expected to adopt the final budget at their April 17 meeting. The budget has to be formally adopted by May 1. The new fiscal year begins June 1, 2023.
The proposed budget can be accessed here:
Pleasantville
Meanwhile, the draft Pleasantville budget for next year proposes a 2.52 percent increase in property taxes for village residents. Those owning a home valued at $700,000 would see their annual village taxes increase by approximately $120.
The tentative budget, which was formally presented at last week’s village board meeting, projects a total of $12.7 million to be collected through the village real estate taxes. Spending will increase from the village’s general fund by $19 million, which is an additional $1.6 million over this year’s budget. Last year, the general fund spending was approximately $17 million.
The tax cap sets a limit on property taxes levied by local governments to two percent or the rate of inflation, whichever is less. Pleasantville’s 2023-24 tentative budget can’t exceed $567,688 and is tax cap compliant with a levy of $109,975, which is less than the maximum levy permitted by law.
The biggest spending spikes are related to the increases in health care and pension expenses which, according to Village Administrator Eric Morrissey, make up 50 percent of the budget.
“There’s also been several retirements as well as new hires,” he said. “We carry the retirees health benefits forward while adding on additional health care benefits for our new employees.”
Other expenditures are offset by revenue such as the increased costs in the village youth programs such as Panther Club. Increased costs associated with paving and sidewalk improvements are offset by state aid. Residential refuse taxes will not increase in the proposed budget, but water rates will increase 2 percent for all residential, business, non-district and bulk customers. The increases are due to higher New York City raw water rates, chemical and operational costs and contractual expenses related to the Millwood Water Treatment Plant.
The public hearing on the proposed budget is April 10 at 8 p.m. and could be extended if necessary. The budget has to be passed by May 1.
The proposed budget can be accessed here:
https://www.pleasantville-ny.gov/sites/g/files/vyhlif1076/f/uploads/fye_2024_tentative_budget.pdf
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