Revised Rye Budget Proposes 2.7 Percent Tax Rate Hike

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Rye is looking at a proposed 2013 budget that would raise the property tax rate 2.7 percent, down from an initially proposed 3.03 percent.

RYE, N.Y. – Next week the Rye City Council will vote on the proposed $44.9 million city budget for 2013, which now includes a revised tax rate increase of 2.7 percent.

The City Council adjusted its draft budget proposal at its most recent meeting, in preparation of an anticipated vote on Dec. 19 at its next meeting, scheduled for 8 p.m. at Rye City Hall, 1051 Boston Post Road.

Here are some key points about the revised budget proposal:

  • The new property tax rate would increase taxes for the owner of a home assessed at the city average of $26,200 by about $86 a year over the 2012 budget. That is a decrease from an estimated $97 initially proposed by the Rye city manager’s office. Under the new budget, the proposed property tax rate would be $148.91 per $1,000 of assessed valuation. In Rye, a home assessed at the city average has a market value of $1.44 million.
  • The proposed 2013 property tax levy is now $20,563,249 a decrease of $64,991 from the initial proposal.
  • The proposed levy tax remains $117,000 below the state-mandated tax levy cap.
  • Revenues budgeted for 2013 – including property taxes – are $30.9 million, up $1 million, or 3.3 percent, from the 2012 adopted budget of $29.9 million. The City Council revised the proposed budget to include $40,000 in building permit revenue as well as $25,000 in sales tax revenue.
  • Expenditures for 2013 are about $31.7 million, up $1.6 million from the 2012 budget. The 2013 expenditures would include capital spending, while there was no budgeted capital spending in 2012.
  • The City Council deducted $5,000 from Fire Department’s initial proposed budget. The council also deducted $20,000 from the Police Department budget that would have funded two new crossing guard positions. The council deducted $25,000 from the Engineering Department because there was a surplus of unused funds from 2012. A combined $30,000 taken from the Fire and Engineering budgets will go toward increasing the Rye Free Reading Room’s budget.

Details of the initial proposed 2013 budget are available online.

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