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What is the Tax Cap? What is the Tax Cap?
Amount the Town is permitted to raise taxes. The Town Board can vote to Amount the Town is permitted to raise taxes. The Town Board can vote to override the cap.override the cap.
In the 3In the 3rdrd year of the cap, the Town of New Castle has never needed to year of the cap, the Town of New Castle has never needed to override the cap.override the cap.
Lesser of 2% or the rate of inflationLesser of 2% or the rate of inflation 1.66% was used for the 2014 budget.1.66% was used for the 2014 budget.
Also used in the calculation is a “tax rate growth factor”. This varies by Also used in the calculation is a “tax rate growth factor”. This varies by municipality, and changes yearly based on projected tax roll changes.municipality, and changes yearly based on projected tax roll changes.
1.0041 was used for the 2014 budget for the Town of New Castle.1.0041 was used for the 2014 budget for the Town of New Castle.
Applies to the tax levy (total amount of taxes collected), not the tax rate Applies to the tax levy (total amount of taxes collected), not the tax rate (amount per $1,000 of assessed value)(amount per $1,000 of assessed value)
Calculating the Tax Cap for the 2014 Budget:Calculating the Tax Cap for the 2014 Budget:
Fund 2014 Appropriation 2013 Tax Levy2014 Proposed Tax
Levy % Change
A - General $19,707,805.00 $11,556,941.00 $11,772,481.00 1.87%D - Highway $4,148,824.00 $3,037,076.00 $3,240,534.00 6.70%SW - Water $8,034,352.00 $991,739.00 $991,739.00 0.00%R - Refuse $3,357,070.00 $2,725,600.00 $2,725,600.00 0.00%SM - Ambulance $48,721.00 $44,061.00 $48,721.00 10.58%
$287,240.00 $274,807.00 $287,240.00 4.52%T - Parking $99,668.00 $87,884.00 $89,642.00 2.00%L - Lighting $115,000.00 $110,000.00 $100,000.00 -9.09%F - Fire Protection $603,284.00 $651,446.00 $603,284.00 -7.39%S1 - Sewer 1 $46,444.00 $45,533.00 $46,444.00 2.00%S2 - Sewer 2 $15,177.00 $14,879.00 $15,177.00 2.00%S3 - Sewer 2 $20,725.00 $20,318.00 $20,725.00 2.00%S4 - Sewer 3 $20,790.00 $20,382.00 $20,790.00 2.00%S5 - King Greeley $54,130.00 $53,086.00 $54,130.00 1.97%S6 - Pines Bridge $54,318.00 $0.00 $0.00 0.00%S7 - Brevoort Rd $26,532.00 $18,870.00 $19,248.00 2.00%SW2 - Two Castles $28,662.00 $13,885.00 $15,262.00 9.92%SW3 - Birch Dr $5,240.00 $5,359.00 $5,240.00 -2.22%SW4 - High Ridge $29,861.00 $0.00 $14,861.00 0.00%C4 - Brevoort Drng $10,944.00 $11,244.00 $10,944.00 -2.67%SD - Law Farms $65,315.00 $56,791.00 $56,792.00 0.00%CR1 - Allen Place $35,166.00 $8,394.00 $6,166.00 -26.54%CR2 - Greeley $35,418.00 $4,200.00 $4,200.00 0.00%
Totals: $36,850,686.00 $19,752,495.00 $20,149,220.00 2.01%
$19,833,480.23
$20,162,716.00 2.08%
$20,149,220.00
Tax Rate Growth Factor @ 1.0041
Tax Cap @ 1.66%
Actual 2014 Total Tax Levy
2014 All Funds2014 All FundsAppropriation BreakdownAppropriation Breakdown
$36,850,686$36,850,686
Sewer Districts238,116
1%
Northern Fire Protection603,284
2%Enhanced Ambulance District335,961
1%
Special Districts425,274
1%
Refuse District3,357,070
9%
Water District8,034,352
22%
Town General & Highway23,856,629
64%
2014 Budget Summary 2014 Budget Summary
PAGE 1
APPROPRIATED APPROPRIATEDFUND BALANCE FUND BALANCE
TO BE USED TO BE USED APPROPRIATED AMOUNTFOR OPERATING FOR CAPITAL FUND BALANCE TO BE RAISED
APPROPRIATION REVENUE EXPENSE EXPENSE FROM DEBT BY TAX
A General Fund 19,707,805 7,935,324 0 0 0 11,772,481
D Highway Fund 4,148,824 808,290 100,000 0 0 3,240,534
SW Consolidated Water District 8,034,352 6,292,613 750,000 0 0 991,739
R Refuse District 3,357,070 422,305 209,165 0 0 2,725,600
SM Enhanced Ambulance Districts 0
Ossining 48,721 0 0 0 0 48,721
Chappaqua 287,240 0 0 0 0 287,240
T New Castle Parking District 99,668 0 10,026 0 0 89,642
L Consolidated Lighting District 115,000 0 15,000 0 0 100,000
F Northern Fire Protection District 603,284 0 0 0 0 603,284
S1 Sewer District No. 1 Maintenance 46,444 0 0 0 0 46,444S2 Sewer District No. 2 Maintenance 15,177 0 0 0 0 15,177S3 Sewer District No. 2 Ext Maintenance 20,725 0 0 0 0 20,725S4 Sewer District No. 3 Maintenance 20,790 0 0 0 0 20,790S5 King Greeley Sewer District 54,130 0 0 0 0 54,130S6 Pines Bridge Sewer District 54,318 54,318 0 0 0 0S7 Brevoort Road Sewer District 26,532 0 7,284 0 0 19,248
SW2 Two Castles Water District 28,662 13,400 0 0 0 15,262
SW3 Birch Drive Water District 5,240 0 0 0 0 5,240
SW4 High Ridge Water District 29,861 15,000 0 0 0 14,8610
C4 Brevoort Road Drainage District 10,944 0 0 0 0 10,944
SD Lawrence Farms Drainage District 65,315 0 8,523 0 0 56,792
CR1 Commercial Refuse District #1 35,166 29,000 0 0 6,166CR2 Commercial Refuse District #2 35,418 31,218 0 0 0 4,200
36,850,686 15,601,468 1,099,998 0 0 20,149,220
TOWN OF NEW CASTLEBUDGET SUMMARY - FISCAL YEAR 2014
2014 Revenue Breakdown2014 Revenue Breakdown General, Highway, Water & Refuse Funds General, Highway, Water & Refuse Funds
$35,248,051$35,248,051
Appropriated Fund Balance$1,059,165
3%
Other Government Aid$1,416,368
4%
Interfund Transfers$1,505,901
4%Departmental Income
$3,785,82611%
Property Tax Penalties$400,700
1%
Sales Tax$2,325,000
7%
Metered Water Sales$5,803,037
17%
Real Property Taxes$18,730,354
53%
Key Revenue SourcesKey Revenue Sources General FundGeneral Fund
County Sales Tax - $2,325,000County Sales Tax - $2,325,000 NYS Mortgage Tax - $950,000NYS Mortgage Tax - $950,000 Commuter Parking Fees - $775,000Commuter Parking Fees - $775,000 Building Permits - $490,000Building Permits - $490,000 Summer Camps - $486,000Summer Camps - $486,000 Concession Income - $405,000Concession Income - $405,000
Highway FundHighway Fund State Aid (CHIPS) - $220,000State Aid (CHIPS) - $220,000
Refuse FundRefuse Fund Compost & Mulch Sales - $130,000Compost & Mulch Sales - $130,000 Yard Waste - $80,000Yard Waste - $80,000
Water FundWater Fund Water Sales - $5,803,037Water Sales - $5,803,037
2014 Expenditure Breakdown 2014 Expenditure Breakdown General, Highway, Water & Refuse Funds General, Highway, Water & Refuse Funds
$35,248,051$35,248,051
Debt$2,666,214
8%
Transfers$1,185,433
3%
Personnel$11,258,460
32%
Equipment$367,546
1%
Contractual$10,731,043
30%
Benefits$9,039,355
26%
Key ExpendituresKey Expenditures
Highway FundHighway Fund Road Paving - $400,000Road Paving - $400,000 Salaries (Snow Removal) - $175,000Salaries (Snow Removal) - $175,000 Salt - $175,000Salt - $175,000 Gasoline/Diesel - $69,000Gasoline/Diesel - $69,000 Road Maintenance Materials - $50,000Road Maintenance Materials - $50,000
Refuse FundRefuse Fund Refuse Collection - $1,752,000Refuse Collection - $1,752,000 Transfer Site Charges - $485,000Transfer Site Charges - $485,000
Water FundWater Fund Cost of Water - $1,460,561Cost of Water - $1,460,561 Water Plant Operations – $835,275Water Plant Operations – $835,275 Electricity - $308,214Electricity - $308,214 Chemicals - $105,616Chemicals - $105,616
Key ExpensesKey Expenses
Factors Affecting All FundsFactors Affecting All Funds Employee BenefitsEmployee Benefits
Health Insurance - $4,138,092Health Insurance - $4,138,092 NYS Retirement - $2,668,696NYS Retirement - $2,668,696 Workers Compensation - $987,939Workers Compensation - $987,939
Debt Payments - $2,821,490Debt Payments - $2,821,490 Legal Expenses - $394,114Legal Expenses - $394,114 MIS Costs - $290,203MIS Costs - $290,203 Telephone/Data Services - $115,080Telephone/Data Services - $115,080
2013 vs 2014 Average Tax Bill2013 vs 2014 Average Tax Bill(Assuming Town Water, Refuse, Fire Protection, and Ambulance)(Assuming Town Water, Refuse, Fire Protection, and Ambulance)
2013 2014 Change % Change
Total A/V $1,064,185,188.00 $1,067,091,896.00 $2,906,708.00 0.27%
Average A/V $172,309.00 $171,045.00 -$1,264.00 -0.73%
Tax Rate 13.713795 14.069093 0.355298 2.59%
Water District Rate 0.982314 0.980269 -0.002045 -0.21%
Spec Dist - Northern Fire 3.179464 2.933620 -0.245844087 -7.73% - Ambulance 0.269880 0.280192 0.010311626 3.82%
General/Hwy $2,363.01 $2,406.45 $43.44 1.84%
Water $169.26 $167.67 -$1.59 -0.94%
Refuse $485.00 $485.00 $0.00 0.00%
Northern Fire $547.85 $501.78 -$46.07 -8.41%
Ambulance $46.50 $47.93 $1.42 3.06%
CCSD $17,765.41 $18,047.02 $281.61 1.59%
Westchester County $3,063.52 $3,041.04 -$22.47 -0.73%
Total Tax Bill $24,440.55 $24,696.89 $256.34 1.05%
Cost of ServicesCost of ServicesAverage Assessed Value $171,405Average Assessed Value $171,405
Average Tax Bill $2,406Average Tax Bill $2,406
Police, $643.93
Capital Projects, $196.21
Highway, $322.03
Admin/ Comptroller/ Town
Clerk/ Tax Assessor/ Tax
Receiver, $828.95
Building & Engineering, $139.35
Parks and Recreation, $233.72
Snow Removal, $42.27