POUND RIDGE, N.Y. -- Pound Ridge's 2016 budget is now law after the Town Board voted unanimously to adopt it.
Total spending comes in at more than $7,661,130. Of that amount, the tax levy, which represents the total amount of property tax revenue, is at $5,086,630. Although the adopted levy amount is an increase from last year's - it is $5,297,825 - it comes under the state-mandated tax-levy cap.
The cap allowed for Pound Ridge to raise the tax levy for 2016 up to $5,408,779.
Non-property tax revenues in the budget total $2,434,500. The budget also appropriates $140,000 in reserve funds. Use of reserve funding is down from 2015 by about $46,000.
Despite the tax changes, total spending is down by $32,850, or 0.43 percent. Total revenues decreased by $2,500, or 0.10 percent.
The tax rate, which represents what people owe per $1,000 of assessed property value, will rise by 2.06 percent, a figure that includes tax collection for the town's land reserve. Excluding the land reserve (and only counting the general and highway funds), the tax rate will increase by 0.31 percent.
In absolute dollars, the tax rate, which segmented to the general/highway fund category, will rise from $13.666 per $1,000 assessed value to $13.7081 per $1,000. The tax rate for the land reserve is set to rise from 50 cents per $1,000 of assessed value to 75 cents per $1,000.
Notable appropriations include $997,000 for health insurance, $485,000 for state pension contributions, $328,000 for road maintenance, $209,708 for repaying short-term debt and $143,731 for repaying long-term debt.
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