Albion village budget reduces taxes
ALBION – The Village Board adopted a $6,633,734 budget for 2016-17 that will reduce taxes, slightly, for village property owners.
The village’s tax rate will drop from $17.75 to $17.66 per $1,000 of assessed property. The amount of taxes to be collected will also drop 0.4 percent from $2,497,252 to $2,487,946, which is a $9,305 reduction.
Mayor Dean London and the board unanimously approved the budget on Wednesday. London said department heads deserve credit for presenting “realistic numbers” and working with the board to prevent a tax increase.
London said the village is “thinking outside the box” to try to bring down taxes. Albion Police Chief Roland Nenni, for example, also serves as Holley’s police chief in an agreement that brings in revenue for Albion. Other village personnel also work with Holley’s sewer plant, and Elba’s water and sewer.
The budget also stops a downward slide in overall assessments in the village. After several years of a declining tax base, Albion grew by $190,060 to $140,880,321. That represents only a 0.13 percent growth, but it wasn’t a decrease, village officials noted on Wednesday.
Other good news in the budget, according to Clerk/Treasurer Linda Babcock: the village is only using $193,000 from reserves or its fund balance. She thinks that is the lowest level in many years. In the 2015-16 budget, the village used $248,000 from its fund balance, which was down from the $300,000 in fund balance in 2014-15.