MOUNT KISCO, N.Y. – The Board of Trustees of the Village of Mount Kisco will hold a public hearing regarding the proposed 2013-14 village budget on Monday, April 1, at 7:30 p.m. in the Frank DiMicco Board Room in Village Hall. The recently proposed budget would include a tax rate increase of 3.52 percent.
With Mount Kisco’s average village property assessed at about $38,000, the tax increase represents a $94.14 per $1,000 of assessed property value, translating to a rise of $121.98 annually per resident.
The budget, currently slated at $29,855,255, is broken down into several categories: general, library, debt, water, and sewer, with the general funding representing the majority of the budget at $20.4 million.
Although the proposed budget would register a 2.55 percent tax levy — the amount of property tax revenue collected — that would appear to be over the state-mandated tax levy cap of 2 percent. But exemptions such as carried-over funds from 2012-13 and pension costs would allow the budget to squeeze under the state-mandated cap.
State-mandated costs such as pensions continue to be one of the biggest budget drivers throughout in the state, and Mount Kisco will be no exception next year.
Although its pension picture is not as steep as the one the Bedford Central School District is facing , the village is still looking at nearly $375,000 in pension costs.
As for non-property tax revenue, the village expects to raise just more than $6 million through sale taxes, permits and rental incomes.
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