New tax rate is $10.53 per $1000
After a final budget work session last week, the Village Board adopted a $7,248,797 budget on Monday.
The budget was adopted unanimously. It carries with it a tax rate of $10.53 per thousand dollars of assessed valuation for property owners in Highland Falls. There is $3,186,171 to be raised in taxes to support the spending plan.
The breakdown of the spending is $5,192,417 in the general fund; $912,015 in the water fund, and $1,144,365 in the sewer fund.
Along with the budget, the board set the water and sewer rates for Highland Falls property owners. The first 5000 gallons of water used per six month billing period costs $88.80, and then the cost is $4.63 for each 1000 after. The sewer rate is 185 percent of the immediately previous water bill.
Trustee Jim DiSlavo noted that at the last budget workshop the board was able to bring the tax levy below the state-mandated tax cap.
“We’d been sitting right at it,” he said, “but with a few changes were able to bring it down a little.”
In the 2018-19 year the tax rate was $10.41 per $1000. The total budget in the 2018-19 year was $7,070,568.
In another money matter at the meeting, the board adopted a resolution refinancing, at a lower rate, $2.9 million in bonds.
