Albion village budget raises taxes 3.72%
ALBION – The Village Board approved a $6,873,243 budget this evening that increases the amount to be collected in taxes by 3.72 percent or by $97,847, from $2,632,569 to $2,730,417.
The tax rate will increase by 7 cents from $17.73 to $17.80 per thousand dollars of assessed property. That rate increase is 0.4 percent.
The rate would have been higher the village’s tax base grew by 3.3 percent or $4.9 million to $153.4 million.
Mayor Eileen Banker said the Village Board worked diligently with department heads to put together the budget. The village fiscal year starts June 1.
The budget includes $3,822,953 in the General Fund (compared to $3,791,527 in 2018-19), $1,627,104 in the Water Fund (compared to $1,699,282 in 2018-19), and $1,351,007 in the Sewer Fund (compared to $1,277,023 in 2018-19).