SALAMANCA – Despite the influx of casino revenues into the city, residents of Salamanca will see a modest increase in taxes for the coming year, should the budget pass after a public hearing next week.
The budget for the fiscal year of April 1 to March 31, 2015, calls for a total of $7,665,575 to operate the city, according to Mayor Carmen Vecchiarella.
Local revenues from the bed tax, sales tax and other fees are expected to be just shy of $3 million, at $2,941,706. State aid will total $3,495,176, and the city is expected to use $200,000 from its fund balance.
That will leave $1,028,693 left to be raised through tax levy.
According to City Clerk April Vecchiarella, the tax rate will be $59.78 per $1,000 of assessed value, a 2 percent increase over the current operating plan’s $57.11 per $1,000 of assessed value.
A hearing on the budget will be held at 7 p.m. Wednesday in the Salamanca Municipal Building, 225 Wildwood Ave.
Depending on any comments by city residents at the public hearing, the tentative budget could be adopted that evening, the mayor said.