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Penn Yan tax rates increase

The Penn Yan Village Board will hear comments about the proposed 2017-’18 budget at its April 18 meeting.

The $5.24 million spending plan includes a tax levy increase of $171,057 or 6.08 percent. While well above the tax cap allowance of 1.15 percent, the increase still falls under the tax cap which is adjusted according to a complicated state formula, according to Village Treasurer Gary Meeks.

The increased tax levy will result in increased tax rates ranging of 2.3 percent ($14.89 per $1,000 in assessed value) in Benton, 5.5 percent ($15.35) in Milo and 7.9 percent ($16.19) in Jerusalem.

One of the biggest changes in the budget is an increase of $59,000 in the fire department equipment reserve fund, bringing this year’s amount to $99,000. Meeks says this will help build up funds toward a down payment for the next fire truck purchase, since the final $55,000 truck payment was made in the current fiscal year, and no payment will be due in 2017-18.

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