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Following in the footsteps of his predecessor, Cortlandt Supervisor Dr. Richard Becker delivered a proposed 2023 budget Oct. 28 that calls for a minimal 1% tax increase for three-quarter of town residents.
“I am very proud of our proposed budget that continues to take into consideration how important a low town tax increase is for all our taxpayers,” said Becker. “In addition, we continue to provide excellent services, new projects, and recreational activities and protect our open space with additional acres added onto our inventory.”
Town taxes in the villages of Croton-on-Hudson and Buchanan are slated to rise 2% next year. Town taxes represent about 11% of a property owner’s tax bill. The majority (70%) are school taxes.
Spending is proposed to increase by 2.9%, which Becker attributed to “costs that are out of our control,” such as technology updates, supplies and equipment, fuel, health insurance benefits and legislative mandates.
Cortlandt has a fund balance of $19.8 million and townwide debt of $8.1 million, which is only about 1.4% of its borrowing capacity. The town was awarded $3.2 million from the federal American Rescue Act, which is being utilized for government expenses and infrastructure for sewers and water projects.
The town’s Open Space Account Designated for Land Conservation stands at $104,015. The Recreation and Parkland Fund is currently $227,602 and the Environmental Fund, established for the replanting of trees, is $75,550.
“Fiscally conservative” revenue projections in the budget include $7.1 million in sales tax ($6.5 million was budgeted in 2022), $1.5 million in mortgage tax revenue (up from $1.4 million this year), and $189,450 in state revenue sharing (the same as 2022).
The Town Board will be holding a special meeting Nov. 7 to receive and file the proposed budget. The final budget is scheduled to be voted on Dec. 5.
Rick has more than 40 years’ experience covering local news in Westchester and Putnam counties, running the gamut from politics and crime to sports and human interest. He has been an editor at Examiner Media since 2012. Read more from Rick’s editor-author bio here. Read Rick’s work here: https://www.theexaminernews.com/author/pezzullo_rick-writer/