Volney public hearing on overriding state tax cap Oct. 10

By Scott Allardice

It looks like the town of Volney may be raising taxes in 2014 in excess of the state-mandated cap on property tax increases.

But it only looks that way, said Supervisor Dennis Lockwood.

Revenues from a new water district in the town are expected to boost Volney’s income over the tax cap number; which is 2 percent or the rate of inflation, whichever is lower.

State Comptroller Thomas DiNapolli recently set the tax cap at 1.66 percent for the 2014 budget year.

The new water district includes County Route 45, McDougall Road and part of County Route 6.

“The rest of it might be less than 2 percent,” Lockwood said, referring to the rest of the town’s 2014 spending plan.

Town officials are in the midst of the 2014 budget process this month and next, and must adopt a final 2014 spending plan by Nov. 20.

But with the anticipated “excess’ spending, the town is required to adopt a resolution to override the state spending cap.

There will be a public hearing on the tax cap override resolution at 5 p.m., Oct 10 at the town hall.

Share this story:
Facebook Twitter Pinterest Plusone Email

Leave a Reply

Your email address will not be published. Required fields are marked *