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North Elba supervisor: ‘We’ll be under tax cap’

October 13, 2017
By ANTONIO OLIVERO - Staff Writer (aolivero@adirondackdailyenterprise.com) , Lake Placid News

LAKE PLACID - Despite thousands in additional costs for a number of infrastructure projects and purchases, this town's council expects to stay under the state's tax cap for its 2018 budget.

State Comptroller Thomas DiNapoli set that 2018 cap at 1.84 percent for towns across the state with a Dec. 31 fiscal year end. It's the highest cap in five years as towns will be able to more than double their 2018 tax increases compared to 2017, as the cap is the highest it's been in five years.

The tax levy cap, first established in 2011, is by law either 2 percent or the rate of inflation, whichever is lower. With low inflation rates, the cap has hovered well below 2 percent since 2013, bumping up this year. Last year's cap was 0.68 percent.

"We anticipate being under the tax cap," North Elba town Supervisor Roby Politi said at Tuesday's town council meeting. "I mean, we have some - we were going to have some additional costs going forward - one being the replacement of the sidewalk around Mirror Lake in conjunction with the village. And we have a number of airport grants, a new T-hangar, a new lighting system for the runways, a new park, a new snowblower for the airport - a $400,000 piece of equipment. They're all on grants, but we have to put in 5-percent."

The council set its public hearing dates for the town, sewer and water budgets for Nov. 18 at 5 p.m. at the North Elba Town Hall. Politi added that the town hopes to finalize a preliminary budget available to the public by Nov. 1. He added that the town council has worked on its budgets at two workshop meetings and will continue to at five more sessions.

Last November, North Elba passed its 2017 budget at $4,248,704, a 0.85 percent increase [$36,230] over the 2016 tax levy. The town raised its tax levy by 1.3 percent the previous year and 2.3 percent the year prior. The estimated tax rate this year per $1,000 of assessed property value was $1.34 for town residents, an increase of about 2 cents from the 2016 budget.

 
 

 

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