With a limit of raising the tax levy 1.56 percent, the Town of Brookfield budget might require an override by the board of the tax cap.
At last week’s Town Board meeting, Supervisor Loren Corbin outlined the scenario for 2021. Because of significant reductions in revenue from the Covid-19 impact this year, and projected out to next year, Brookfield’s tentative budget contains a tax levy hike of 2.9 percent.
That comes to an additional 14 cents per $1,000 of assessed property value. For a property assessed at $100,000, that will be an additional $14 on the tax bill. A property assessed at $500,000 will pay $70 more.
Corbin said Madison County faces a tough budget year as well. Brookfield, like other towns, cannot count on revenue from the agreement with the Oneida Nation for their Yellow Brick Road casino as well as other revenue such as sales tax, which is down $17,000 for the town.
State money for road repair this year has been reduced 20 percent. For Brookfield, that is a $60,000 hit.
In addition, Corbin told board members, the 2021 budget will have some revenue that will not be available in 2022. The sale of two trucks, plus reimbursement from FEMA for costs of the 2019 Halloween storm will be one-shot sources. FEMA paid the town $28,600.
“Under all these conditions,’’ Corbin said, “our circumstance is pretty good.’’
After reviewing the budget, board members voted 3-2 for a public hearing at their next meeting Nov. 9 to consider overriding the tax cap.
Board members Dewitt Head and Joe Walker voted no. To override the tax cap three board members need to vote in favor of doing so.
Even though the town is buying two new trucks, the town’s debt service…