The Kings Point Board of Trustees approved a $16.8 million dollar budget on Wednesday, which features no tax increases.
The budget is $52,429 less than last year’s, or .03 percent lower.
Taxation raised $15,000,042 this year – about $7 less than last year.
Meanwhile, revenue from other sources increased by about $100,000 from last year. The budget also features a $155,000 lower appropriated cash surplus.
While home-assessed valuation went up about $500,000 from last year’s $37,234,221, this year’s tax rate is $39.78 per $100 of assessed value. Last year it was $40.29 per $100 of assessed value.
“As I said before, this is a zero percent increase and an actual reduction in the tax burden,” Kings Point Mayor Michael Kalnick said.
Exactly half of the budget towards towards the police department. Twelve percent goes towards debt service, while ten percent goes to fire and ambulance services.
The other quarter goes towards professional services, administrative matters, public works, maintenance, the building department, the village court and garbage and tree removal.
The full budget can be found online here.