RYE BROOK, N.Y. -- The Village of Rye Brook's Board of Trustees presented amendments to the village's proposed 2012-13 budget on Wednesday evening, which would cut the proposed tax cap levy in half.
The tentative budget, which was filed by Village Administrator Chris Bradbury in mid-March, was presented to both the board and the public and proposes a compliant property tax cap levy of 1.46 percent. According to Bradbury, the maximum allowable levy the village could propose is 2.92 percent.
Since Bradbury filed the budget, the board has held two workshops dedicated to trimming the already lean tentative budget. The result of the two workshops produced amendments to both the proposed expenditures and revenue, which lower the $18.5 million budget by $95,000.
With these new figures, the proposed tax cap levy would fall from 1.46 percent to .73 percent, bringing the total tax levy to $13.1 million. With the average home assessment in the village totaling $738,000, the total tax burden on the average home would be approximately $3,500, just $40 more than last year.
"It's a wonderful budget," Mayor Joan Feinstein said. "The fact is we are very cognizant of the financial plight that has continued and I think the picture is looking a little bit better."
The village board of trustees opened and closed the public hearing with no objections from the public and is set to vote on the budget at it's April 24 meeting. If a budget is not adopted by May 1 the village will be forced to adopt the original tentative budget.
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