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Mayor’s Column: May 2, 2022.
The Village staff and trustees have been working on the 2022–23 budget, department by department, since February. We held a budget work session on March 28th with a public hearing on April 11th, leaving the public comment period open until April 22nd. The budget we passed on April 25th will become effective on June 1. It has a property tax levy of $11,321,400 equating to a tax rate of 3.5064 per $1000 of assessed valuation, resulting in a levy increase of 3.75%.
Translating into real dollar terms for the Village, the median home value of $2.2 million will see an increase of $26.08 in the Village portion of your total tax bill for a village tax amount on a home of this value of $7714.08 to provide municipal services.
The above is based on a Village taxable value of $3,228,772,575 representing an increase of over $100 million from last year. Taxable value has increased to its highest level in at least 10 years and reflects the strong housing market in 2021. Residential rental properties are also in high demand resulting in a reassessment and re-value of this property class.
To Read More, Link To: https://bronxvilleinsider.blogspot.com/2022/05/bronxville-insider-bronxville-mayor.html
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