The Lake Success Board of Trustees approved a $14.92 million general fund budget last week, which features less reliance on reserves but slightly higher taxes.
The adopted budget for 2018-19, set to begin on June 1, features a $9.95 million tax levy, which is about $285,000, or 2.95 percent, higher than the current $9.67 million levy.
Village Mayor Adam Hoffman said the difference between homestead and nonhomestead properties, the allocation of surplus and other factors need to be examined when looking at that number.
Ultimately, Hoffman said the average resident could expect a $266 increase in property taxes.
“The reason taxes went up a little bit is because we want to be conservative on the surplus,” Hoffman said, noting the village is only allocating about $700,000 of it in the new budget rather than the $940,000 in the current budget.
The state recommends that municipalities have a surplus of around 15 percent, Hoffman said.
The current budget is $14.78 million, according to the plan, which means the budget’s increase is just under 1 percent.
Public safety makes up the largest portion of the spending plan, according to the budget, with Police Department expenses totaling $5.15 million and police retirement costs being worth just over $1 million.
Hoffman said residents find it “well worth the investment” and that structural changes in the Police Department are helping keep police costs “almost level.”
Taken together, benefits are worth $3.4 million, general government support gets $2.38 million, $2.02 million goes to debt service, transportation costs $967,481, cultural and recreational programs cost $479,462, and home and community service costs will be $430,315.
This helps cover things like a “self-sustaining golf course,” the community building, a gym, grill room, a pool, the Police Department, a card room and other items, Hoffman said.
