The Village of Thomaston adopted a 2012-2013 budget at Monday night’s board meeting that maintains tax rates at current levels and features a slight drop in spending from 2011-2012.
Village of Thomaston Mayor Bob Stern touted what he described as the village’s commitment to fiscal responsibility in a letter to residents.
“We are mindful of the general economic burdens faced by our residents in this challenging time,” wrote Stern. “During the past four years, the village has significantly ‘tightened its belt’ by consolidating the Village Justice Court with the county court system, providing incentives for the retirement of a senior member of the public works department and eliminating a part-time position in the Village Hall, among other savings.”
The $1.89 million budget – a .9 percent decrease from last year’s budget – includes a $61,000 increase in the village’s equipment spending to fund the replacement of village trucks.
But the budget also includes a major drop in spending on debt payments. The village will pay off the last of its $6.6 million in road work bonds in May, leaving the village debt-free after 15 years of payments. The village has budgeted $291,413 for debt payments in 2012-2013 – a six-figure drop from the $567,013 paid out in last year’s budget.
The village will be able to maintain its roads without taking out additional bonds, according to Stern.
“This is a major accomplishment,” Stern wrote. “We have maintained our streets in excellent condition, so that I anticipate the village will be able to repave its roads, and maintain its other facilities, vehicles and services, far into the future without the need for any borrowing.”
Like many municipalities on Long Island, Thomaston incurred major expenses cleaning up from Hurricane Sandy that the village hopes will be reimbursed by federal authorities.
Stern said the storm cost the village over $300,000, which was paid out of existing surplus funds.
The village did not raise property taxes, keeping its current rate of $34.495 per $100 of assessed value.
The village also levies an additional tax of $12.947 per $100 of property value on residents who live north of the Long Island Rail Road property in the village, as those residents are serviced by the Great Neck Vigilant Fire Company instead of the Manhasset-Lakeville Fire Department. Residents living south of the LIRR pay for fire service on their town of North Hempstead taxes instead.
Reach reporter Dan Glaun by e-mail at dglaun@theislandnow.com or by phone at 516.307.1045 x203. Also follow us on Twitter @theislandnow1 and Facebook at facebook.com/theislandnow.
