Lakewood Village Hall
LAKEWOOD – Mayor Cara Birrittieri has released her executive budget for the village’s 2018-19 fiscal year, which is calling for a tax rate increase of 7.7 percent.
According to the Post-Journal, the $3.74 million proposed spending plan, which includes a $1.91 million tax levy, was filed Thursday with the village clerk and is available for review. The village’s fiscal year runs from June 1 to May 31.
Birrittieri cited rising health care costs for village employees as one of the main reasons for increased spending.
Under the mayor’s proposal, the property tax rate would increase from $7.34 per $1,000 assessed value to $7.91 per $1,000. It would be the second consecutive year that village property owners would see an increase in property taxes. The current year’s budget (2017-18) raised taxes by 2.7 percent. The 2016-17 budget saw property taxes reduced by 5 percent.
The village board will now review the plan to enact and vote on any proposed changes. The deadline for the budget to be approved is May 1.
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