Cobleskill village homeowners will save hundreds of dollars next year if taxes are cut as planned.
Village board members Tuesday adopted a tentative budget that reduces spending by $600,000 and would reduce the tax rate by 46.63 percent.
That means a homeowner whose property is assessed at $150,000 would pay $969.60 next year compared to $1,816.50 this year.
The cuts come as a result of a reduction in the police department. Eight of 12 officers resigned in July, and although Mayor Becky Stanton-Terk vows to rebuild the department, it’s unlikely to be that large next year.
“I looked into the crystal ball, and it’s super-cloudy,” said Mayor Stanton-Terk, indicating police department numbers are uncertain.
The 2024 tentative budget would fund five full-time and four part-time officers, plus a secretary for Chief Jim McCrum.
“I hope we can get to that, but I’d be a liar if I guaranteed it,” Mayor Stanton-Terk said.
The department has three full-time and one part-time officers now, Chief McCrum said.
Because so many officers resigned in July, the village didn’t fully fund the department, so “it’s important to give that money back” to taxpayers, Mayor Stanton-Terk said.
Trustees looked at five budget options with tax cuts ranging from 50.98 percent to 43.97. A major concern was 2025; a huge tax cut in 2024 may have to be recouped the following year if spending and circumstances change.
Clerk-Treasurer Cindy Miller pointed out that if costs rose substantially in 2025, the village board would have to exceed the two-percent tax-levy cap.
Trustee Lance Rotolo pushed for the budget with the smaller tax cut, 43.97 percent, but trustees went along with Deputy Mayor Howard Burt’s recommendation of the middle ground, the 46.63-percent cut.
The difference in the budget options is how much the village board would use from fund balance, or savings, to apply to spending. The tentative budget takes $100,000 from fund balance.
Spending under the proposal totals $2.9 million, down from the current $3.574 million. The tax rate would drop from $12.11 this year to $6.46 in 2024.
The budget adequately funds all village departments, Mayor Stanton-Terk said.
Chief McCrum said hiring new officers has been difficult because of regulations and applicants whose training has lapsed or is inadequate.
Still, he’s aiming for the budgeted five full-time and four part-time officers.
A force that size, Chief McCrum said, would cover the village 19 to 20 hours per day.
Board members expect to adopt the final budget at their November 21 meeting, when there will also be a public hearing on the budget.