Albion village budget reduces tax rate by 3 cents
ALBION – The Village Board has approved a $6,695,655 budget for 2018-19 that reduces the tax rate from $17.76 to $17.73 per $1,000 of assessed property.
The rate came down partly due to a boost in the village’s tax base. The taxable value of the village increased 3.0 percent or by $4,374,492 – from $144.1 million to $148.5 million.
Mayor Eileen Banker also said the Village Board and department heads were diligent in trying to reduce the tax rate.
“The board worked together many hours and evenings to cut expenses where we felt would not cut or disrupt services,” Banker said. “Our department heads know their limitations with funding and they worked with us to plan projects that are needed for the village in a fiscally responsible way. We were able to stay within the tax cap and we were actually able to reduce our tax rate by .03. Our work is not done – we will continue to look for ways to reduce spending without the reduction of needed services.”
Although the tax rate is going down, the village will be collecting more in taxes. The tax levy is up 2.86 percent or by $73,236 – from $2,559,333 to $2,632,569.
The budget, which was adopted on Monday, includes $3,791,527 in the General Fund, $1,627,104 in the Water Fund, and $1,277,023 in the Sewer Fund.
The village is planning several projects, including a new amphitheater in Bullard Park and the installation of a sewer line at the park in preparation for a new spray park. The village is also putting a new water line on West Academy Street, south of Route 31, and is working to resolve a water pressure issue on Allen Road. A new array of solar panels will also be installed by the sewer plant at Densmore Street.