Proposed Budget Is Less Than NYS Tax Cap
It’s the most fiscal time of the year, Dalers. Along with the Farmingdale School District Board of Education, the Farmingdale Public Library is getting ready to discuss with the public their budget for the next year. The corresponding vote for the budget and board of trustees is in less than a month.
Running for one open board of trustees seat are incumbent Therese Rudden and Wilson Arana.
The proposed 2019-20 library budget reflects a tax levy increase of .60 percent—an increase that is less than the 2 percent increase allowed under the New York Property Tax Cap Law.
Under the 2019-20 budget, the projected revenue is set at $121,450; this amount is based in part on the average received in previous years and an estimate based on the mid-year receipts. The revenue includes $56,000 for P.I.L.O.T. (payment in lieu of taxes); $19,800 for fines from overdue, lost and damaged materials; $3,000 for lost book reimbursements; $10,000 for interest income from monies held in money market accounts and/or certificates of deposit; $16,000 for state grants and aid; and $16,650 for miscellaneous revenues such as used book sales, meeting room and program fees, computer printer paper, copy machines and donations. The projected revenue from real property taxes is not set; from July 2017 to June 2018, real property tax revenue totaled at $3,820,400.54, and from July 2018 to June 2019 is projected to be $1,948,050.12.
The 2019-20 projected total expenses are at $4,040,867.40, the tax levy expenses minus revenue are $3,919,417.40—a .60 percent increase, or $23,317.17, from last year’s tax levy of $3,896,100.23. Under the New York Property Tax Cap Law, which sets the tax levy at 2 percent, the allowable levy as per the tax cap is $3,977,925; this amount is $58,507.60 more than the 2019-20 proposed tax levy.
To participate in this year’s Farmingdale Public Library budget vote, register at the library Tuesday, March 19, from 4 to 8 p.m. A budget hearing will be held the same day at 6 p.m. in the library’s board room. The library budget vote and trustee election will be held at the library from 7:30 a.m. to 9 p.m. on Tuesday, April 2. Absentee ballots, which may be obtained from the library, must be completed and returned to the library by 5 p.m. on April 2.
For more information, call the Farmingdale Library at 516-249-9090.
