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With revenue from the wind turbines scheduled to decrease, the Cohocton town board approved its budget calling for a minor tax increase in 2012 Monday night.
The budget, which Supervisor Jack Zigenfus called “very conservative,” set the tax levy at $2.90 per thousand of assessed value, a small jump from the $2.85 per thousand in 2011.
The tax levy increase is a hike of 1.7 percent. Though it fell under the 2 percent property tax cap, the town approved an override law Monday as a safety measure.
While the town kept the tax increase low for 2012, and remained under the cap, the 2013 budget could pose a greater problem, said Zigenfus.
“We’re well under (the tax cap). Not that we didn’t have to make a lot of cuts, and next year the cuts will be even bigger because of these formulas. But we’re preparing for it now,” he said.
With revenue from the wind turbines scheduled to decrease, the Cohocton town board approved its budget calling for a minor tax increase in 2012 Monday night.
The budget, which Supervisor Jack Zigenfus called “very conservative,” set the tax levy at $2.90 per thousand of assessed value, a small jump from the $2.85 per thousand in 2011.
The tax levy increase is a hike of 1.7 percent. Though it fell under the 2 percent property tax cap, the town approved an override law Monday as a safety measure.
While the town kept the tax increase low for 2012, and remained under the cap, the 2013 budget could pose a greater problem, said Zigenfus.
“We’re well under (the tax cap). Not that we didn’t have to make a lot of cuts, and next year the cuts will be even bigger because of these formulas. But we’re preparing for it now,” he said.
