Holley village budget will cut tax rate by 21 cents
HOLLEY — The Holley Village Board has approved a tentative budget that would reduce the tax rate from $16.41 to $16.20 per $1,000 of assessed property.
The board held a public hearing on the budget at Tuesday evening. The meeting was done online through Zoom. The Village Office remains closed to the public due to the Covid-19 pandemic. This was the village’s first meeting online.
The budget will be formally adopted later this month. The village fiscal year runs from June 1 to May 31.
Although the tax rate will be going down, the village will be collecting more in property taxes. The tax levy will go up 2.3 percent or by $20,483 from $887,999 to $908,482.
The tax rate will go down because the village’s tax base grew by about $2 million. The village assessed value is up 3.6 percent or $1,967,513, from $54,098,660 to $56,066,173.
The general fund portion of the budget – office, DPW, police, employee benefits and general debt – totals $1,239,434, while the water budget is $436,401 and the sewer budget is $180,338.
Mayor Brian Sorochty said village officials have been working hard on the budget in recent months. He is pleased the tax rate will go down and the budget is under the property tax cap.
However, he said the village will have to be extra careful this coming fiscal year because state and federal funding may change due to the economic strains from Covid-19’s impact on the economy.
“We will really need scrutinize spending given the uncertainty,” Sorochty said.
In other action at Tuesday’s meeting, the Village Board:
• Approving spending $1,500 for the Waste Water Treatment to purchase two submersible pumps from Goodwin and 100 feet of lay flat hose.
• Approved spending $600 for the Police Department’s annual defibrillator certification conducted by Zoll.
• Approved spending $3605.83 for the Water Department to buy a Well Pump from Bailey Electric.
• Authorized spending $3,800 for the Water Department to buy four sampling stations from Blair Supply.
• Approved up to $900 for flowers and mulch for containers on Public Square and Wright Street.