The Quogue Village Board unanimously adopted a $8.23 million budget on Friday afternoon for fiscal 2016-17 that does not pierce the state-mandated cap on the tax levy.
The spending plan, which no one from the public commented on, increases overall spending by $180,000, or 2.2 percent, but also carries a lower tax rate than the current year’s budget, Quogue Mayor Peter Sartorius explained. Most of the increase is needed to cover employee raises, projected increases in health insurance, and bumps in general maintenance operation costs, the mayor said.
The village’s fiscal year runs from June 1, 2016, through May 31, 2017.
Mr. Sartorius recently explained that under the adopted budget the village tax rate should decline about three cents, from $2.12 per $1,000 of assessed valuation to $2.09 per $1,000. This means that someone who owns a property with an assessed value of $500,000 will pay approximately $1,045 in village taxes during the next fiscal year, or about $15 less than the current year.
Mr. Sartorius explained that part of the reason the tax rate will decline is that the village’s overall assessment is expected to increase by about $45 million, from $3.13 billion this year to $3.17 billion next year.
In addition to the lower tax rate, the budget carries a $6.646 million tax levy, which is only a 0.03 percent increase from the current year’s $6.644 million tax levy.