Medina village won’t raise tax rate
MEDINA – Property owners won’t face a higher village tax rate this year after the Village Board approved a 2014-15 budget on Monday night that keeps the rate at $16.44 per $1,000 of assessed property.
“I would consider that good news,” Mayor Andrew Meier told residents during a budget hearing tonight.
The village’s general fund – the budget for police, streets, fire department and other services outside the water and sewer departments – totaled $4,958,514, a 5.7 percent or $269,539 increase from $4,688,975 in 2013-14.
The village is offsetting most of that increase with stronger revenues for its ambulance service through the fire department, and $70,000 more in carryover cash funds. The ambulance service returned $150,000 more in revenue than was budgeted in 2013-14.
The amount to be collected in taxes will increase by $16,160 or 0.6 percent to $2,738,602. The tax rate won’t change because the tax base grew by 0.6 percent or $996,974 to $166.5 million.
The tax base is bigger because Orchard Manor was added to the tax rolls. The nursing home on Bates Road was tax exempt when it was owned by Medina Memorial Hospital. The site was sold last year for $4.1 million.
The village’s water fund is up 2.5 percent from $1,418,202 to $1,452,970. The sewer fund increased 4.5 percent from $969,679 to $1,013,758.
Village Board members unanimously approved the budget and offered praise to the Medina department heads for their help in preventing an increase in the tax rate.
The budget takes effect June 1, the start of the village fiscal year.