CHAPPAQUA, N.Y. -- The Town of New Castle's tentative 2015 budget has a 0.20-percent tax levy increase, which is the lowest in recent years.
The levy is proposed to increase by $39,618 from the previous year. The tax levy, which represents the amount of the budget that is funded by property tax revenue, would be almost $20.2 million. Total spending for the budget is more than $36.8 million.
The increase is the smallest in recent years. A chart included in the budget shows that the levy rose by 2.01 percent for 2014 and increased by similar amounts in the three fiscal years before that. The next-lowest amount that the levy rose in the chart was for 2010, which was by 1.47 percent
The budget's proposed tax rate, which represents what taxpayers owe per $1,000 of assessed value, would rise by about 1.56 percent, going from more than $14.09 per $1,000 to more than $14.31.
The budget comes under the state-mandated tax levy cap. There is no cap on the tax rate.
The average household would have a $10 rise in the combined town tax and special district bill.
Asked about the levy increase, Town Supervisor Rob Greenstein cited savings with a new refuse contract and workers' compensation; both changes will yield 6-figure savings.
The budget is subject to further revision, however.
In a report at the Town Board's Oct. 14 meeting, Town Administrator Jill Shapiro expected asking the town to set a public hearing by the end of October.
The tentative budget is available here.
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