April 5, 2017
CANISTEO, NY – Village of Canisteo’s chief financial officer Tim Harkenrider gave a lengthy presentation on the 2017-18 budget Monday night in front of a packed house and it looks like village residents will be paying more taxes.
According to Harkenrider, the 2017-18 budget stands at $1,953,566 which turns out to be a 4.00091% increase from the previous year, which adds up to $7.69 per thousand dollars of assessed value. One major reason for the tax increase is the loss of assessed value in the village. This year alone the value decreased by almost $232,000.
The new budget, which takes effect June 1st, will need a 60% majority to pass because it will override the states mandated 2% cap. “When broken down, it really only amounts to a $.29 increase per $1000 of the value of your property,” added Harkenrider, “Retirement wages and personal services are the major driving force behind this increase.”
Harkenrider was praised by fellow board members as this was one of the hardest budgets in recent years to balance. The budget will be up for voter approval May 17th.