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Long Lake plans to override levy cap

Wednesday, October 30, 2013 - Updated: 8:55 AM

By PETE KLEIN

Express News Staff

LONG LAKE–The Long Lake Town Board continued to work on its 2014 budget when it met on Wednesday, Oct. 23.

Based upon the probability the 2014 budget will exceed the state imposed 1.66% cap on an increase in tax levy, the board agreed to consider a resolution to override the cap when it next meets on Wednesday, Oct. 30, starting at 7:30 p.m. in the Raquette Lake school gym.

In relation to the tax levy cap of 1.66%, the budget is currently over the cap by $34,082.

Currently, the townwide estimated tax rate per $1,000 of assessed value is about 66 cents, rising from $5.3078 per $1,000 in 2013 to about $5.9721 for 2014.

PRELIMINARY BUDGET

All of what follows remains a work in progress. All figures are as of Oct. 23 and could change up or down. Figures in (parentheses) are from last year’s 2013 budget.

THE GENERAL FUND was showing preliminary appropriations of $2,544,648 ($2,473,779) - less estimated revenues of $282,900 ($261,500), less $120,000 from appropriated fund balance would equal $2,141,748 to be raised from taxes.

THE HIGHWAY FUND was showing appropriations of $787,555 ($776,880) - less estimated revenues of $7,300 ($7,400), less $20,000 from appropriated fund balance would equal $760,255 to be raised from taxes.

LONG LAKE FIRE DISTRICT was showing appropriations of $373,686 ($373,686), same as last year to be raised from taxes.

RAQUETTE LAKE FIRE DISTRICT was showing appropriations of $72,938 ($72,680) up $258 to be raised from taxes.

LONG LAKE WATER DISTRICT shows $399,735 ($392,690) in appropriations - less estimated revenues of $112,650 ($112,950).

RAQUETTE LAKE WATER DISTRICT shows $96,690 ($94,725) in appropriations - less estimated revenues of $10,150 ($10,030).

TOTAL

Combining all funds except for the fire districts, the preliminary 2014 budget has appropriations totaling $3,828,628 ($3,738,074) - less estimated revenues of $413,000 ($391,880), less appropriated fund balances totaling $150,000 to equal $3,265,628 to be raised from the tax levy.

This means that as figures stood on Oct. 23, the budget is up $93,528 from the 2013 tax levy of $3,172,100 - an increase of 2.9%.

The public hearing on the 2014 budget will take place on Wednesday, Nov. 6, at 8 p.m. in the Town Hall.

peteklein@hamiltoncountyexpress.com

     

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