Lyndonville sees 10-cent cut in village tax rate
New reassessments won’t take effect until 2025-26 budget
LYNDONVILLE – The Village Board has approved an overall $1,351,115 budget for 2024-25 that reduces the tax levy by 0.7 percent and cuts the tax rate from $15.94 to $15.84 per $1,000 of assessed property.
The amount of money to be collected in property taxes will decrease from $488,066 to $484,658.
The board approved the spending plan on April 11. The budget includes the following three funds:
- General fund increased from $636,918 to $642,612
- Water fund up from $464,828 to $476,814
- Sewer fund down from $237,244 to $231,689
The total for of three funds shows an increase in spending by $12,125 or 0.9 percent from $1,338,990 to $1,351,115.
The village’s tax base is down slightly from $30,605,653 to $30,597,571. The tax base should see a jump in the next village budget in 2025-26 when new assessments take effect. The Town of Yates is doing a town-wide reassessment this year, and that includes the village.
The new village budget takes effect June 1 and runs until May 31.
