Altamont proposes $2.3M budget for next year

ALTAMONT — The village’s proposed $2.3 million budget for next year is up about $12,500 over this year’s budget, an increase that places Altamont well under the state-set levy limit.

Catherine Hasbrouck, the village treasurer, told The Enterprise that the final property tax rate has yet to be finalized; for the past two years, the rate was $2.73 per $1,000 of assessed value.

In addition to a March 12 workshop, where the budget for 2019-20 was first presented, another workshop is scheduled for March 20, and, if needed, another on March 26. The village board will vote at its April meeting on adopting the budget.

The proposed general fund total would be about $1.4 million.

The village is expecting to receive revenues of:

— $540,000 in sales tax, which is distributed by Albany County based on population. Daniel McCoy, county executive, said at the village board’s March 5 monthly meeting that Altamont would receive about $622,000 in sales-tax revenue from the county;

— $290,000 from property taxes;

— $133,124 from fire-protection services;

— $48,500 in state aid;

— $38,000 in cable franchise fees;

— $29,000 from fines and forfeited bail;  

— $20,000 from the utilities gross receipts tax; and

— $13,730 in income from village departments, like charges for parks and recreation activities.

The proposed water budget totals $391,006 of which $354,930 is covered by by metered water sales. And the sewer budget totals $548,665 of which $441,950 is covered by sewer rents.

 

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