Albion’s $7 million village budget raises tax rate by 5 cents
ALBION – The Village Board approved the 2021-22 village budget on Wednesday evening that increases the tax rate from $17.80 to $17.85 per $1,000 of assessed property. That represents a 0.3 percent increase. (For a home assessed at $80,000, that would be another $4 in village taxes and a total tax bill of $1,428.)
The budget is nearly $7 million at $6,981,799. That is nearly the same as the 2020-21 budget, where overall spending was $6,972,285.
The newly adopted budget includes $3,973,560 in the general fund, $1,715,124 in the water fund, and $1,293,114 in the sewer fund.
The board set the tax levy at $2,761,524, which is up 0.5 percent from the $2,747,669 in 2020-21.
The village saw a slight increase of 0.2 percent in its tax base or $343,777, going from $154,363,452 to $154,707,229.