Greenport Village board members are expected to adopt the 2014-15 budget during tonight’s regular meeting at 6 p.m.
The proposed general fund budget of $2.9 million next year increases the local tax levy by 2.14 percent. However, the rate includes exemptions to bring the budget in compliance with the state mandated 2 percent tax cap. It will include payments such as contributions to the state employee retirement system that are not restricted by the cap, treasurer Robert Brandt said.
The proposed budget totals $10.4 million, and includes the general fund as well as other accounts under the village such as the electric fund ($4.35 million), recreation fund ($1.35 million), sewer fund ($1.34 million) and water fund ($461,500).
Under the $2.9 million general fund spending plan, residents would see an increase in property taxes of 1.54 percent as a result of a higher assessed valuation, Mr. Brandt has said. The current tax rate is $19.42 per $100 of assessed valuation. That amount has increased to $19.72 for 2014-15, according to the tentative budget.
The draft budget also includes the creation of two new positions: a code enforcer and paralegal for next fiscal year. Mr. Brandt said savings from the combining of administrative positions will be used to pay for the new positions.