The 2023-2024 village budget includes funding to combat property blight
As you know, the Village Board has been committed to lowering the tax rate. We were not able to lower the rate this year- however we were able to keep the rate below the NY Constitutional Tax Cap Limit. The tax rate proposed for 2023-2024 will be set at $18.15 per thousand which is a 1.57% increase to the rate. In terms of actual tax dollars raised, this is about 1.19% increase in tax levy revenue compared to last year. The tax revenue collected is now over $27,000 less than was collected in the 2016-2017 budget year – seven year ago!
As far as taxes collected: or the GeneraI Fund, the amount coIIected each year is as follows:
When you factor in inflation over the past twelve years, the Village is effectively collecting much LESS tax revenue in terms of dollars adjusted for inflation than during the 2010-2011 fiscal year. In other words to keep up with inflation, the Village should be collecting almost $3.4 million in tax revenue this year, or roughly 4 ¾ higher taxes than we are collecting. If the Village simply kept pace with estimated inflation, the tax rate for 2023-2024 would be $26.28 instead of $18.15.
We are also pleased to announce that rates for the Water utility and Refuse utilities will remain the same for the 2023-2024 Budget year. Sewer rates will continue to be impacted by the Wastewater Treatment Plant project with an increase of 17.25% for this fiscal year which is on average a $3/month increase. Electric rates are regulated by the Public Service Commission and in order for the Village to keep up with inflationary impacts and day to day operational costs, the Village has contracted with a firm to aide in the request for a Rate Case for the electric rates. This is not currently reflected in the adopted budget.
Each year it has been the Village Board’s goal to lower the tax rate while still providing the same range of services. Although we were not able to do so this year, we were still able to keep rates low and well below the NYS Tax Cap Limit for the residents of the Village of Wellsville. We are also pleased to include a demolition budget in the General Fund for the 2023- 2024 fiscaJ year in order to combat some of the blighted properties in the Village. From public safety to street maintenance, every service is essential to Village residents so the board works to create a budget that provides those valued services efficiently.
Thank you,
Mayor Randy Shayler
